Catenaa, Thursday, May 21, 2026- Japan’s largest online brokerages, SBI Securities and Rakuten Securities, are developing cryptocurrency investment trusts internally and preparing to offer them directly to retail investors as the country moves closer to formally integrating digital assets into mainstream financial markets.
According to a Nikkei Asia report published Sunday, SBI Securities plans to distribute crypto investment products created by its affiliate SBI Global Asset Management.
The products are expected to include both exchange-traded funds and investment trusts linked to digital assets such as bitcoin and ether.
SBI intends to manage the entire process internally, including product development, asset management and retail distribution.
Rakuten Securities is following a similar strategy through Rakuten Investment Management.
The company plans to sell crypto-linked investment products directly through its smartphone trading application.
The move would simplify access to crypto exposure for Japanese retail investors who currently must open separate crypto exchange accounts or manage digital wallets.
Under the proposed structure, investors could buy crypto investment products using existing brokerage accounts already used for stocks and bonds.
Japan’s Financial Services Agency is preparing broader regulatory reforms governing digital assets.
Authorities are working to revise the enforcement order of the Investment Trust Act by 2028.
The change would officially allow investment trusts to hold cryptocurrencies as recognized assets.
Separately, Japan’s cabinet approved legislation in April that would classify crypto assets under the Financial Instruments and Exchange Act.
If lawmakers pass the measure during the current parliamentary session, the law could take effect as early as fiscal 2027.
The reforms would place cryptocurrencies under a regulatory structure similar to stocks and bonds.
Industry analysts said the changes could significantly accelerate institutional and retail participation in Japan’s digital asset sector.
Nikkei reported that 11 other major Japanese brokerages are also considering crypto investment trust products once regulations become final.
Nomura Securities and Daiwa Securities have already announced internal development plans for crypto investment products.
SMBC Group created a cross-group task force focused on digital asset opportunities.
Asset Management One, linked to Mizuho Financial Group, also began preliminary research into crypto investment products.
Japan Exchange Group Chief Executive Hiromi Yamaji said earlier this year that crypto ETFs could begin trading on the Tokyo Stock Exchange as early as 2027 if regulatory reforms move ahead.
Nomura and SBI are expected to lead the first wave of crypto ETF listings in Japan.
SBI Global Asset Management previously outlined aggressive expansion plans for the crypto sector.
The company reportedly aims to gather about 5 trillion yen, or roughly $32 billion, in crypto-related assets within three years of launching products.
SBI also proposed plans for a combined bitcoin-and-XRP ETF and another product linked to both gold and cryptocurrencies.
Both products remain subject to regulatory approval.
Despite growing interest, some Japanese financial firms remain cautious because of crypto market volatility.
Nomura’s crypto subsidiary Laser Digital recently reported losses tied to market swings and reduced parts of its trading exposure earlier this year.
Still, analysts said the investment trust model offers major brokerages a lower-risk path into crypto markets because firms can generate management and distribution fees without taking direct trading risks.
