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The Ripple logo adorns a wall at a banking and financial conference in Toronto on Oct. 19.   © Reuters

Virtual currency 'Ripple' effect takes SBI to 9-year high

Investors see massive unrealized gains on brokerage's stake in XRP operator

YUKO NOMURA, Nikkei staff writer | Japan

TOKYO -- The cryptocurrency bubble has revealed itself in the stock market here as investors flock to SBI Holdings, betting that the brokerage's links to U.S. virtual currency operator Ripple will yield massive investment gains as its XRP's price soars.

The financial services firm climbed 13% on Friday to finish at a roughly nine-year high of 2,568 yen. The issue clocked in eighth on the first section of the Tokyo Stock Exchange by turnover, which rose around 250% from Thursday.

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