Japanese Securities Firms Plan to Launch Cryptocurrency Investment Trusts

SBI Securities and Rakuten Securities are preparing to introduce cryptocurrency investment trust products, according to Foresight News. The move comes as major brokerage firms like Nomura Securities express interest in following suit once a regulatory framework is established. A survey by Nikkei News of 18 leading brokerage firms revealed that 11 are considering offering such products after regulatory approval. SBI Securities plans to sell funds developed by its subsidiary, SBI Global Asset Management, which will include ETFs and investment trusts in high-liquidity cryptocurrencies like Bitcoin and Ethereum. The entire process, from product development to sales, will be managed internally within the group. Similarly, Rakuten Securities aims to collaborate with Rakuten Investment Management and other group members to independently develop products, with the goal of enabling cryptocurrency investment trust transactions via a smartphone app. On the regulatory front, Japan's Financial Services Agency is working to allow investment trusts and ETFs to include cryptocurrencies. The agency plans to amend the Investment Trust Law by 2028 to categorize cryptocurrencies as specific assets that can be held by investment trusts. The Japanese government approved a related bill amendment on April 10, which, if passed in the current parliamentary session, is expected to take effect in the 2027 fiscal year. At that time, the tax rate on cryptocurrency trading profits will be reduced from the current maximum of 55% to 20%, aligning it with the rates for stocks and bonds.