Japan’s major brokerage groups are preparing crypto investment trust products as regulators work toward allowing funds to hold digital assets by 2028.
Summary
- SBI and Rakuten are preparing in-house crypto investment trusts for Japanese retail investors.
- Nomura, Daiwa, SMBC and Mizuho-linked firms are studying crypto fund products as rules evolve.
- Japan’s 2028 roadmap could allow investment trusts and ETFs to hold Bitcoin and Ether.
SBI Securities and Rakuten Securities are already developing products inside their own groups, according to a Nikkei report.
The planned products could give retail investors crypto exposure through regular securities accounts. Today, many Japanese users still need exchange accounts or wallets to buy crypto directly. Investment trusts would reduce that barrier and place Bitcoin and Ethereum exposure inside a familiar fund structure.
SBI and Rakuten build in-house products
SBI Securities plans to sell products developed by SBI Global Asset Management. The funds are expected to focus on highly liquid assets such as Bitcoin and Ethereum, with both exchange-traded funds and investment trusts under review.
Rakuten Securities is also preparing crypto investment trust products through Rakuten Investment Management and other group firms. The company wants users to trade the products directly through smartphone apps, according to the report.
Moreover, Nomura and Daiwa have also announced plans to develop crypto investment trusts once the regulatory framework becomes clear. SMBC Group, including SMBC Nikko, has formed a task force to study possible products, while Asset Management One under Mizuho Financial Group has started early research.
A survey cited in market updates said 11 of 18 major Japanese brokerage firms may offer crypto investment trust products after approval. That shows broad interest from traditional finance, even before the rules are complete.
Japan’s crypto fund roadmap advances
Japan’s Financial Services Agency is expected to revise rules under the Investment Trust Act by 2028. The change would add crypto assets to the list of assets that investment trusts can hold.
Crypto.news reported that Japan recently reclassified crypto as a financial instrument under the Financial Instruments and Exchange Act. The change adds stronger market rules, including annual disclosure requirements and insider trading restrictions.
The same policy shift supports Japan’s plan to approve spot crypto ETFs by 2028. Crypto.news reported earlier that Nomura Holdings and SBI Holdings are expected to be among the first major firms to develop crypto-linked ETF products.
SBI’s broader crypto activity also continues. Market updates from crypto.news said the group has pursued Bitbank subsidiary talks and launched a Visa card offering Bitcoin, Ethereum and XRP rewards. Those moves show how Japan’s brokerage groups are building retail crypto access across funds, exchanges and payment products.
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