Étienne Girard
Japan’s largest asset managers are gearing up to create the country’s first-ever cryptocurrency investment trusts, signaling a significant turning point in the nation’s digital asset strategy.
According to reporting from Nikkei, six major firms — including Daiwa Asset Management, Asset Management One, Amova Asset Management, and Mitsubishi UFJ Asset Management — confirmed they are evaluating the launch of crypto-focused investment vehicles.
This development follows active discussions among lawmakers about allowing crypto exposure inside investment trusts for the first time, a structure currently banned under existing Japanese regulations.
Japan’s Financial Services Agency is now examining a proposal to shift cryptocurrencies under the Financial Instruments and Exchange Act, moving them away from their current categorization under the Payment Services Act.
As previously reported by PRIME, this regulatory overhaul aims to:
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Treat crypto similarly to traditional financial instruments
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Introduce a flat 20% tax rate on digital asset gains — aligning it with stocks and bonds
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Lay the foundation for legally recognized crypto investment trusts
Nikkei noted that regulators aim to finalize the legal restructuring during the 2026 ordinary parliamentary session. Once enacted, the changes would also trigger amendments to the Investment Trust Act, enabling retail — and eventually institutional — investors to access regulated crypto trust products.
Firms Prepare for Market Entry
SBI Global Asset Management reportedly plans to roll out Bitcoin and Ethereum ETFs alongside diversified crypto investment trusts, targeting around 5 trillion yen ($32 billion) in assets within three years of launch.
Meanwhile, other major players — including Nomura Asset Management — have already created internal divisions to design crypto product lines. Nomura stated its operational systems are prepared for an immediate rollout once regulatory approval is granted.
Japan’s Broader Push Into Digital Assets
These moves reflect Japan’s fast-evolving approach to digital asset regulation.
Earlier this month, PRIME reported that policymakers are considering new rules requiring crypto custody to be handled exclusively by licensed providers, tightening security oversight after several global industry breaches.
Japan has also taken a strong step toward stabilizing its digital economy through yen-backed stablecoins. Regulators recently endorsed a joint stablecoin initiative involving three major Japanese banks, underscoring Tokyo’s belief that fiat-pegged stablecoins will play a key role in the country’s financial future.
