Investors often view market prices as the final measure of value. But in crypto-linked holdings, deeper stories remain hidden beneath the surface. XRP’s market price tells only part of that story. According to Japan’s financial giant SBI Holdings, the real value of XRP will only be revealed when Ripple completes a specific corporate milestone.
Crypto commentator SMQKE drew attention to SBI Holdings’ latest investor materials on X, showing the company’s clear position on Ripple. SBI confirmed that it does not currently reflect the value of its XRP-related holdings on its books.
The firm stated that its 9% stake in Ripple would only be fully revalued after a major liquidity event, such as an IPO or equivalent transaction.
SBI: XRP’S TRUE VALUE WILL BE REVEALED AFTER THE RIPPLE IPO‼
👇 https://t.co/RBxgDaIzDmpic.twitter.com/8WPf6oYq1h— SMQKE (@SMQKEDQG) November 5, 2025
Why SBI’s Position Matters
SBI Holdings is Ripple’s largest external shareholder in Asia and a key strategic partner. The company has played a major role in driving XRP’s adoption in Japan through SBI Remit and other payment corridors.
Its financial disclosures are therefore closely watched by institutional investors. SBI’s accounting treatment means that any future gains tied to Ripple’s valuation remain unrealized for now. Once Ripple’s shares become publicly traded, those gains could finally appear in SBI’s balance sheet.
The Impact of a Ripple IPO
SBI’s report clearly explains that the valuation of XRP held in escrow by Ripple Labs will not be reflected in its accounts until Ripple becomes a publicly listed company. An IPO would provide a transparent market valuation for Ripple’s equity, offering an objective benchmark for XRP’s intrinsic worth.
This could transform how institutional investors view XRP, moving its valuation from speculation to measurable financial reality.
We are on X, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) June 15, 2025
Market Context and Timing
Industry analysts, including those at DBS Bank, have linked Ripple’s potential IPO window to 2026. The DBS “Crypto Digest” released in July 2025 suggested that Ripple could be the first blockchain company with a publicly traded native asset directly positioned for Wall Street.
That timeline aligns with SBI’s view that true value realization for XRP depends on Ripple’s public listing. However, global market conditions and regulatory clarity will determine the final schedule.
What It Means for Investors
SBI’s latest disclosure is a signal to long-term XRP supporters. The message is clear: Ripple’s IPO is the key that could unlock the asset’s true valuation potential. Until that event, XRP’s book value remains understated. For holders, the wait may be strategic, as Ripple’s public debut could reshape market perception and institutional demand.
In conclusion, SBI Holdings has made its stance unmistakable. The company will only recognize the full valuation of its Ripple stake — and by extension, XRP’s intrinsic worth — when Ripple conducts an IPO or an equivalent market event. Until then, XRP’s true value remains hidden, waiting for the transparency that only a public listing can bring.