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Japan to enter bitcoin spot ETF era; $18.4 billion market seen by FY2028

Japan\'s bitcoin spot exchange-traded fund market could grow to about $18.4 billion by fiscal 2028, as retail investor access broadens, institutional money flows in and tax changes take hold, industry participants say. Digital asset manager XWIN said the forecast is based on realistic funding assumptions, with the target equalling 0.13 percent of Japanese household financial assets. It also pointed to retail channels, institutions and product supply from financial firms as key inflow routes.