- Due to potential changes in legislation Japanese brokerage firms are creating their own investment funds based on cryptocurrencies.
- SBI Securities and Rakuten Securities plan to independently develop products and sell them directly to retail investors.
On information Nikkei Asia, Japan’s two largest online brokerages, are developing their own cryptocurrency-based investment funds and plan to sell them to retail investors.
SBI Securities will distribute funds created by its subsidiary SBI Global Asset Management. The fund lineup will include ETF, as well as investment trusts linked to liquid assets such as Bitcoin and ether.
Rakuten Securities is taking a similar approach and will offer products designed for mobile trading through Rakuten Investment Management.
Of the 18 major Japanese brokerage firms surveyed by Nikkei, another 11 said they would consider creating crypto investment products once the regulatory framework is developed. Nomura Securities and Daiwa Securities have already announced plans to create funds within their groups, and SMBC Group has already formed an inter-group working group. Asset Management One, the asset management company of Mizuho Financial Group, has also begun preliminary research.
It was recently announced that Japan’s Financial Services Agency plans to revise the application of the Investment Trusts Act by 2028. This will officially add cryptocurrencies to the list of assets that investment trusts can own.
In April, the Cabinet of Ministers approved a bill to reclassify cryptocurrencies under the Financial Instruments and Exchange Act, subjecting them to the same regulatory regime as stocks and bonds. If approved, the law would come into force as early as fiscal year 2027.
With this in mind, Japan Exchange Group CEO Hiromi Yamaji stated in late April that the Tokyo Stock Exchange may list cryptocurrency ETF as early as 2027. Nomura and SBI Holdings are expected to conduct the first listings, along with their own investment trust products, which are currently in development.
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