Japan's SBI and Rakuten Securities Plan to Offer Crypto Investment Trusts
Japan's two largest online brokers, SBI Securities and Rakuten Securities, plan to launch crypto investment trusts pending regulatory clarity. Eleven additional companies signaled willingness to enter the market once the legal framework stabilizes.
Key Takeaways
- 1## Major Brokers Signal Entry SBI Securities and Rakuten Securities told regulators they intend to offer cryptocurrency investment trusts, marking a formal step by Japan's largest online brokers into regulated crypto products.
- 2Both firms stopped short of announcing launch dates, citing the need for regulatory guidance on fund structure, custody standards, and investor protections.
- 3## Broader Interest in Regulated Products A regulatory survey revealed 11 additional financial services companies are prepared to offer crypto funds once the legal environment clarifies.
- 4The responses suggest appetite among Japan's established finance sector to formalize crypto offerings rather than leave the market to specialist exchanges.
- 5Regulators have not yet published a detailed timeline for finalizing the framework.
Major Brokers Signal Entry
SBI Securities and Rakuten Securities told regulators they intend to offer cryptocurrency investment trusts, marking a formal step by Japan's largest online brokers into regulated crypto products. Both firms stopped short of announcing launch dates, citing the need for regulatory guidance on fund structure, custody standards, and investor protections.
Broader Interest in Regulated Products
A regulatory survey revealed 11 additional financial services companies are prepared to offer crypto funds once the legal environment clarifies. The responses suggest appetite among Japan's established finance sector to formalize crypto offerings rather than leave the market to specialist exchanges. Regulators have not yet published a detailed timeline for finalizing the framework.
Regulatory Context
Japan's Financial Services Agency has been consulting on crypto fund regulations since 2022, following amendments to the Payment Services Act. The planned investment trusts would allow retail investors to gain crypto exposure through traditional brokerage accounts, subject to the same custody and disclosure requirements as equity and bond funds.
Why It Matters
For Traders
Regulatory clarity in Japan could attract retail capital flows into crypto products, potentially increasing volume on yen-denominated pairs.
For Investors
Approval of investment trusts by major brokers signals institutional legitimacy and may reduce volatility premium on crypto assets held within regulated structures.
For Builders
Standardized custody and fund architecture requirements could drive demand for institutional-grade staking services and on-chain settlement infrastructure.
