Catenaa, Friday, January 30, 2025-Japan plans to approve its first cryptocurrency exchange-traded funds as early as 2028, as regulators move to add digital assets to approved ETF products, Nikkei Asia reported.
The Financial Services Agency is preparing to include cryptocurrencies among the base assets eligible for ETFs, alongside tighter investor protection measures, according to the report. The move would mark Japan’s first formal entry into regulated crypto ETF markets.
Nomura Holdings and SBI Holdings, two of Japan’s largest financial institutions, are expected to lead the effort by launching the country’s initial crypto ETFs for listing on the Tokyo Stock Exchange, Nikkei reported. No official timeline or product details have been announced.
The planned approval follows strong growth in crypto ETFs in the US, where spot bitcoin ETFs have accumulated about $115.8 billion in net assets, representing roughly 6.5% of bitcoin’s total market value. The products have expanded institutional access to digital assets, drawing interest from pension funds, family offices and university endowments.
US regulators have also streamlined listing processes, enabling a broader range of digital asset ETFs. Spot products tied to tokens such as XRP, Solana, Dogecoin, Chainlink, Litecoin and Hedera launched in late 2025, with additional offerings expected.
Other Asian markets have moved more quickly. Hong Kong launched crypto ETFs in 2024, offering exposure to bitcoin, ether and Solana, while allowing in-kind subscriptions and redemptions. South Korea is advancing the Digital Asset Basic Act, which is expected to support future spot crypto ETFs.
Japan, Hong Kong and South Korea are also working to integrate regulated stablecoins into traditional financial systems, reflecting a wider regional shift toward formal crypto adoption.
