SBI Securities and Rakuten Securities are preparing to launch crypto investment trusts and exchange-traded funds (ETF)-style products once Japan finalizes new cryptocurrency regulations.
The move comes as Japan advances plans to classify cryptocurrencies as financial products under the Financial Instruments and Exchange Act, with the revised framework potentially taking effect in fiscal 2027.
The brokers aim to offer crypto exposure through existing investment accounts, making digital assets more accessible to mainstream investors. Both companies build crypto investment trusts through their own asset management subsidiaries rather than simply distributing external products.
This gives them greater control over product design, management and distribution strategies.
Key highlights
SBI Securities and Rakuten Securities plan to launch crypto investment products in Japan. Japan aims to regulate cryptocurrencies under traditional financial securities laws by 2027. The country plans to reduce crypto tax rates and strengthen investor protection rules
According to a Nikkei survey of 18 financial firms, 11 additional companies — including Nomura Securities, Daiwa Securities and Mizuho Securities — are also considering entering the crypto investment market after the regulatory process is completed.
Japan’s policy shift follows the rapid success of US spot bitcoin ETFs approved in January 2024, which now hold more than US$100 billion in net assets. The Japanese government also plans to reduce the top tax rate on crypto profits from as high as 55% to a flat 20%, bringing crypto taxes in line with stock investments.
New regulations will ban insider trading in crypto markets and require annual disclosures from crypto issuers, bringing digital assets closer to traditional security standards. Japan is targeting 2028 for the launch of crypto ETFs, giving regulators time to study developments in the US and Hong Kong, where spot Bitcoin and Ether ETFs are already trading.
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The move could intensify competition in Japan’s financial sector as major brokerages integrate crypto offerings into traditional investment platforms, potentially putting pressure on standalone crypto exchanges. Meanwhile, custodians will face stricter security requirements after incidents like the 48.2 billion yen DMM Bitcoin hack.
Latest developments
Japan’s cryptocurrency and digital asset sector has evolved rapidly as regulators push for stronger investor protections while supporting financial innovation. The country has one of Asia’s most closely watched crypto markets following the success of US spot bitcoin ETFs and Hong Kong’s digital asset boom.
Japanese financial institutions are increasingly exploring tokenized assets, blockchain-based settlement systems and crypto-linked investment products to attract retail and institutional investors. At the same time, regulators are stepping up oversight after several major exchange breaches, including the DMM Bitcoin hack, prompting stricter safeguards and cybersecurity standards.
Major brokerages and banks are also investing in Web3 infrastructure, stablecoin projects and blockchain payment systems as competition in Asia increases. Japan’s planned tax reforms and ETF framework are expected to strengthen the country’s position as a regulated and institution-friendly crypto market, while balancing innovation with financial stability and consumer protection.
SBI Securities is one of Japan’s largest online brokerage firms and part of the broader SBI Group financial ecosystem. The company provides investment, trading, banking and digital asset services and has actively expanded into cryptocurrency and blockchain-related businesses.
Rakuten Securities is the brokerage arm of Rakuten Group and offers online trading, wealth management and investment products to retail investors. The company has increased its focus on fintech, cryptocurrency services and digital asset investment solutions as Japan modernizes its financial regulatory framework.
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