Japan is expected to introduce cryptocurrency exchange-traded funds (ETFs) by 2028, CoinDesk reported on Jan. 26 local time, citing the Nikkei newspaper.
Japan's Financial Services Agency (FSA) plans to allow cryptocurrencies as eligible ETF assets under the Investment Trust Act. Experts expect Japan's crypto ETF market to grow to 1 trillion yen.
The 2028 timeline is slightly later than a Reuters report in November last year. At the time, the FSA said it planned to implement regulatory changes for crypto trading services and the introduction of ETFs in 2026 to 2027.
If it comes in 2028, Japan would introduce crypto ETFs about 4 years later than the United States. In the United States, spot bitcoin ETFs were listed in January 2024 and have grown to $116 billion. Ethereum ETFs launched afterward are at $18 billion.
SBI Holdings applied in August in Japan for a dual-asset crypto ETF combining bitcoin (BTC) and XRP, and Nomura Holdings has shown interest in developing crypto ETFs. All ETFs must receive listing approval from the Tokyo Stock Exchange.
Chi-gyu Hwang
delight@d-today.co.kr