Overview
- Nikkei reports the Financial Services Agency will add cryptocurrencies to the list of specified assets for ETFs under the Investment Trust Act, enabling potential listings as early as 2028.
- The FSA has opened public comment on draft rules covering digital payments and crypto oversight, with consultation set to close on February 27, 2026.
- Nomura Holdings and SBI Holdings are positioned to launch the first products, and any funds would still need approval to list on the Tokyo Stock Exchange.
- Regulators intend to pair eligibility with stronger investor protections, including enhanced custody, valuation and disclosure requirements.
- Asset managers estimate a potential market of about 1 trillion yen ($6.4 billion), though timelines remain uncertain given earlier reports suggesting possible implementation in 2026–27.