SBI Holdings CEO Yoshitaka Kitao cleared up some confusion this week after reports claimed the firm held $10 billion in $XRP tokens.
Not quite—SBI actually owns around 9% of Ripple Labs, the company itself. Kitao called this equity stake a "hidden asset," suggesting its real value goes beyond what's on the books, especially when factoring in Ripple's broader ecosystem, partnerships, and new ventures like RLUSD.
What stands out is the type of exposure. Holding tokens ties you directly to market volatility. Holding equity in a private company building payment rails, compliance tools, and liquidity infrastructure is a longer-term institutional play.
With Ripple's valuation reportedly north of $50 billion in private markets, that 9% stake could be worth over $4.5 billion on paper—potentially more if an IPO ever materializes. The positioning feels calculated, not speculative.