SBI, Rakuten, Nomura Preparing to Launch Crypto Investment Trusts in Japan

Japan's major brokerages are gearing up to bring crypto investment trust to retail investors, with SBI Securities and Rakuten Securities already developing products in-house, while others such as Nomura plan to enter the space once regulations are finalized.

SBI Securities plans to sell funds made by group company SBI Global Asset Management, products that cover both ETFs and investment trusts focused on liquid assets such as Bitcoin and Ethereum, according to a Nikkei report on Sunday. The team intends to do everything from product development to distribution in-house.

Rakuten Securities is taking a similar approach by partnering with Rakuten Investment Management to build products that can be traded directly through smartphone apps, the report said.

The move marks a major change in how ordinary Japanese investors access crypto. Currently, buying digital assets requires opening a separate exchange account or setting up a wallet. Investment trusts allow crypto exposure through existing securities accounts, removing a key barrier to retail participation.

Related: Japan tells real estate and crypto sectors to tighten AML checks on property deals

Nomura, Daiwa, SMBC are moving into crypto funds.

Among the big names, Nomura and Daiwa have both announced plans to develop crypto investment trusts within their respective groups, Nikkei reports. SMBC Group, including SMBC Nikko, has formed a cross-group task force to evaluate the options, while Asset Management One under Mizuho Financial Group has begun preliminary exploration.

The move comes as Japan's Financial Services Agency moves to revise the enforcement order of the Investment Trust Law in 2028, which will formally add cryptocurrencies to the list of specified assets that can be held as investment trusts.

Last month, Japan classified crypto assets as financial instruments under the revised Financial Instruments and Exchange Act, bringing them under the same regulatory umbrella as stocks and bonds. If the draft law is approved in the current session of parliament, it is expected to be implemented in the year 2027.

Related: SBI eyes Bitbank deal as Japanese crypto exchange market strengthens

Japan place to allow crypto ETFs

Japan is reportedly considering legal changes that could allow crypto ETFs by 2028, with major financial groups including Nomura Holdings and SBI Holdings among those expected to launch such products.

SBI Holdings has already listed plans for a Bitcoin-XRP hybrid ETF and a gold-crypto ETF pending regulatory approval.

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