Cryptocurrency exchange-traded funds (ETFs) could list in Japan in 2028, Nikkei reported on Monday, without saying where it got the information.
The regulator, the Financial Services Agency (FSA), plans to allow cryptocurrencies as specific assets for ETFs under the Investment Trust Law, Nikkei said, adding that asset management experts estimated that crypto ETFs in Japan could reach 1 trillion yen ($6.4 billion).
The debut in 2028 is later than reported by Reuters in November. The news organization said the FSA was fine-tuning rule changes that would allow cryptocurrency and ETF trading services to come into force in 2026 or 2027 after approval by parliament.
The regulator did not respond to a confirmation request from CoinDesk sent after Tokyo office hours.
An introduction within two years would leave the Japanese market about four years behind US spot bitcoin. ETFs began trading there in January 2024 and now hold $116 billion in assets, according to SoSoValue data. point ether The ETFs, which debuted later, have $18 billion.
Japan’s Finance Minister Satsuki Katayama said two weeks ago that she fully supports the integration of cryptocurrency trading services by the country’s stock exchanges. He touted 2026 as the “digital year.”
Katayama said regulated venues will play a central role in expanding cryptocurrency adoption. He discussed cryptocurrency exchange-traded funds in the US and the benefits they offer as a hedge against inflation.
In August, SBI Holdings filed for a dual-asset crypto ETF in Japan that would provide direct exposure to both bitcoin BTC and XRP, in a rare case of XRP being formally included with BTC in an institutional-grade product. Nomura Holdings also expressed interest in developing crypto ETFs.
Any ETF would need to be approved for listing on the Tokyo Stock Exchange.
