Japan is in the news today after reports suggested that it is moving closer to launching an XRP ETF through financial giant SBI Holdings. Meanwhile, Binance data revealed that more XRP may be leaving exchanges than entering them – Something to watch during key price zones.
XRP’s plan for Japan
Japan’s SBI Holdings is reportedly preparing Bitcoin [BTC] and XRP ETF plans for the Tokyo Stock Exchange, subject to regulatory approval.
The proposal is said to include a dedicated SBI Bitcoin XRP ETF, along with a separate investment trust that combines gold and crypto exposure. This update came soon after Japan moved to classify crypto assets as financial instruments under updated financial rules.
Here, the timing is important, with it potentially helping institutional interest around the asset. Investors will also have another reason to watch how XRP performs in the coming weeks.
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