Overview
- Nikkei Asia reporting indicates the Financial Services Agency plans to add cryptocurrencies to ETF‑eligible assets.
- Regulators signal that initial spot crypto ETFs could be cleared for listing as early as 2028.
- Nomura Holdings and SBI Holdings are viewed as frontrunners to issue the first Japan‑listed crypto ETFs.
- Any spot crypto ETF would still need separate approval from the Tokyo Stock Exchange before launch.
- Policymakers are weighing complementary measures such as a flat 20% crypto tax, reclassifying major tokens as financial products, and allowing banks and brokerages to handle digital assets.