Japan Brokerages Move Toward Crypto Investment Trusts Amid 2028 Rule Shift

Highlights:

• SBI and Rakuten are preparing crypto investment trusts for Japanese retail investors.
• Nomura, Daiwa, SMBC, and Mizuho-linked firms are also reviewing fund plans.
• Japan’s FSA aims to formalize crypto fund rules by 2028.

Japan’s retail investment market could soon add regulated crypto exposure through major securities accounts. According to Nikke on Sunday, SBI Securities and Rakuten Securities have started preparing products for retail investors. The planned funds would focus on liquid digital assets, including Bitcoin and Ethereum.

Advertisement

SBI Securities plans to sell products developed by SBI Global Asset Management. Moreover, the group aims to manage product creation and distribution within its wider financial network. Rakuten Securities has taken a similar route through Rakuten Investment Management.

Japan’s two large online brokerages already serve millions of retail investors. Their entry could move crypto closer to mainstream portfolio products. Investors would not need separate exchange accounts or personal wallets. Instead, they could use familiar brokerage platforms to gain market exposure across Japan.

Japan’s SBI, Rakuten and Nomura reportedly line up crypto investment trusts. The move could broaden regulated access to digital assets for local investors as traditional finance firms expand crypto offerings. #crypto #Japan #TradFi #Bitcoin #Ethereum #CryptoNews

— Green Candle Gazette (@GCandleGazette) May 17, 2026

Nomura and Daiwa Join the Waiting Line

Nomura and Daiwa also plan to develop digital asset funds within their groups, according to the report. SMBC Group has created a cross-group team to study possible products. Asset Management One, linked to Mizuho Financial Group, has also started early research.

A Nikkei survey of 18 companies found a wider appetite beyond the first movers. Another 11 firms said they would consider crypto funds after regulators clarify the rules. As a result, the market could see several competing products after approval.

The planned products may include both exchange-traded funds and investment trusts. SBI has also outlined ideas for a Bitcoin-XRP dual ETF and a gold-crypto ETF. However, those plans still depend on regulatory approval. The firms are continuing to prepare structures before formal rules arrive.

Regulators Set the Stage for 2028

Japan’s Financial Services Agency has started moving toward a clearer fund framework. The agency plans to revise rules under the Investment Trust Act by 2028. The revision would add cryptocurrencies to assets that investment trusts can hold. This change would give managers a legal path for fund launches.

Additionally, Japan approved a draft amendment in early April that reclassifies crypto assets. The change would place digital assets under the Financial Instruments and Exchange Act. This framework treats them closer to stocks and bonds than payment tools. If parliament passes the bill, it could take effect in fiscal 2027.

Crypto officially became financial assets in Japan. Big day! https://t.co/1t5gOiMhmP

— Sota Watanabe (@WatanabeSota) April 10, 2026

Japan’s move follows strong growth in spot Bitcoin ETFs abroad. The United States approved spot Bitcoin ETFs 2 years ago. Hong Kong later approved Bitcoin and Ethereum ETFs, adding pressure on Asian financial centers. According to SoSoValue data, U.S. Bitcoin ETFs now hold more than $100 billion in net assets.

Retail Crypto Access Moves Beyond Exchange Accounts

Crypto investment trusts could simplify access for ordinary Japanese investors. Many investors currently need exchange accounts before buying digital assets directly. Some also avoid wallets because they fear security mistakes. Therefore, fund products could lower operational barriers without changing the asset’s market risk.

For brokerages, the products offer a way to serve existing customers. SBI and Rakuten can link fund distribution with their current securities platforms. In addition, both groups already operate regulated crypto businesses through related companies.

Advertisement