Japan in 2010 It plans to list the first Crypto ETFs in early 2028 – Nikkei

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Suja Sunderarajan

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Suja Sunderarajan

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June 2023

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Suja was recognized by BeInCrypto 🟣 Women in Crypto 2024 🟣 for her leadership in crypto journalism.

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Last Updated:

January 26, 2026

Japan's Financial Services Agency is considering adding cryptocurrencies to the list of eligible assets for exchange-traded fund (ETF) products. Nikkei reported on Monday that Japan has approved its first crypto ETFs as early as 2028. If approved, this would end the agency's ban on crypto ETFs.

This further extends the expected timeframe for the launch of a potential crypto ETF in Japan. A KPMG Japan executive said in August 2025 that the launch of a Bitcoin ETF could be delayed until 2027.

Additionally, Nomura Holdings CEO Hajime Ikeda pointed to a recent survey that found more than 60% of Japanese investors are interested in investing in crypto assets “in one form or another.”

That said, the Japanese regulator's recent move to launch spot crypto ETFs will address growing investor interest in crypto.

Nomura, SBI Holdings set to create Japan's first crypto ETF

According to a Nikkei report, Japan's largest asset manager Nomura Holdings and financial services giant SBI Holdings are developing ETF products pending approval to list on the Tokyo Stock Exchange.

If approved, crypto ETFs will allow investors to trade digital assets like stocks or gold ETFs.

Last year, SBI Holdings confirmed plans to launch XRP ETFs upon regulatory green light. In a presentation published in August, SBI revealed plans to launch two ETFs. The first product will be a gold and crypto assets ETF that will invest 49% of its assets in Bitcoin (BTC), and the second will be a Bitcoin and XRP ETF that will provide exposure to these two tokens.

The US and Hong Kong have already approved their first crypto ETFs in 2024.

Japan's finance minister supports crypto trading on stock exchanges

Japan's Finance Minister Satsuki Katayama recently said that 2026 will be the “year of digital”.

On Japanese crypto news site Coinpost, Katayama points out how crypto investment products have gained traction in the West.

“In the US, ETF structures have been deployed as a way to hedge inflation, and similar efforts are expected in Japan,” she said.