Headline: Japan’s top brokers poised to roll out crypto investment trusts as regulators finalize rules SBI Securities and Rakuten Securities are preparing to launch cryptocurrency investment trusts once Japan’s Financial Services Agency (FSA) finalizes the regulatory framework, Nikkei Asia reports. The moves would let customers gain crypto exposure directly through their existing brokerage accounts, lowering the barrier for retail and institutional investors alike. SBI Securities — the online brokerage and investment banking arm of SBI Group — and Rakuten Securities, part of the Rakuten Group, plan products that include exchange-traded funds (ETFs) and other trust structures. Those investment vehicles would be developed within each company’s broader holding group, the report says. Nikkei’s survey of 18 securities firms found that another 11, including major names such as Nomura Securities, Daiwa Securities and Mizuho Securities, said they would consider entering the crypto investment-trust market once the regulatory process is complete. The interest signals growing mainstream appetite in Japan to offer regulated, account-based access to digital assets. The timing dovetails with international momentum: U.S. spot crypto ETFs were approved in January 2024, and bitcoin-focused funds now hold more than $100 billion in net assets, according to SoSoValue — a development that has helped spur global industry demand for ETF-style products. Regulatory change is at the heart of the shift. In early April, the Japanese government approved a draft amendment to reclassify cryptocurrencies as financial products under the Financial Instruments and Exchange Act rather than as payment instruments. If the amendment clears parliament, the new law could take effect in fiscal 2027, creating the legal foundation for securities firms to offer these products. What this means for investors: regulated investment trusts and ETFs from established brokerages would make crypto exposure simpler and potentially safer for retail clients who prefer to stay inside traditional brokerage accounts, while giving securities firms a new avenue to expand product suites as Japan’s rules catch up with market demand.
Japan's SBI and Rakuten Prepare Crypto ETFs as FSA Nears Regulatory Approval
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Summary
Japan’s Financial Services Agency is nearing final approval for a regulatory framework that could see crypto reclassified as financial products by fiscal 2027, easing entry for major firms like SBI and Rakuten into liquidity and crypto markets. Both are preparing crypto ETFs and investment trusts, aiming to let investors trade digital assets through existing brokerage accounts. At least 11 other securities firms are also considering similar moves amid a broader regulatory crackdown shaping the industry’s future.
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