First Crypto ETFs in Japan Slated for 2028 Launch

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Authorities in Japan are preparing to approve the nation’s first cryptocurrency exchange-traded funds as soon as 2028, Nikkei Asia has revealed. The decision would open a new chapter for regulated digital asset investment in the country.

Reports indicate the Financial Services Agency will revise rules to allow cryptocurrencies as eligible underlying assets for ETFs. Enhanced safeguards for investors will form a critical part of this regulatory update.

The report names financial giants Nomura Holdings and SBI Holdings as the likely pioneers, set to debut the first Japanese crypto ETFs on the Tokyo Stock Exchange. Their entry is highly anticipated by the local investment community.

This development follows the undeniable impact of similar funds in the US. Spot Bitcoin ETFs there have amassed net assets totaling $115.8 billion, capturing a significant slice of Bitcoin’s overall market capitalization.

The US ETF rollout has democratized institutional exposure to digital currencies. It has attracted capital from diverse sources, including family offices and prestigious university investment portfolios like Harvard’s.

Streamlined procedures from US regulators have since spurred filings for ETFs anchored to smaller digital assets. Consequently, spot ETFs for tokens including Solana and Dogecoin launched in late 2025, with further variety expected.

In response, financial markets in Japan’s region have actively sought to emulate the proven US model for crypto exchange-traded funds.