Key Takeaways
- • SBI Securities and Rakuten Securities are developing in-house cryptocurrency investment trusts, allowing retail customers to gain Bitcoin and Ethereum exposure through existing brokerage accounts rather than separate exchange platforms, according to Nikkei Asia reporting.
- • SBI Global Asset Management is targeting approximately ¥5 trillion ($32 billion) in assets under management within three years of launch, with the company managing the full product chain internally from design through distribution.
- • Eleven additional Japanese financial institutions—including Nomura, Daiwa, and Mizuho Securities—indicated willingness to enter the crypto investment trust market once regulatory frameworks are finalized, signaling broad traditional finance interest ahead of regulatory clarity.
- • The shift removes friction for Japanese retail investors, enabling cryptocurrency exposure through familiar brokerage interfaces similar to mutual fund purchases, rather than requiring separate crypto exchange accounts or digital wallets.
- • Japan's regulatory environment is moving toward cryptocurrency fund approval as early as 2028, with both SBI and Rakuten leveraging existing licensed exchange infrastructure and regulatory relationships to accelerate product development.
Summary
Japan's two largest online brokerages, SBI Securities and Rakuten Securities, are building in-house cryptocurrency investment trusts to expand retail access to Bitcoin and Ethereum. Rather than requiring customers to maintain separate crypto exchange accounts, these regulated investment vehicles will allow investors to gain digital asset exposure directly through their existing brokerage platforms, according to Nikkei Asia reporting. This structural shift addresses a significant barrier to crypto adoption in Japan's retail investment market by integrating cryptocurrency products into familiar trading interfaces.
SBI Securities plans to distribute trusts developed by group company SBI Global Asset Management, which has set an ambitious three-year target of approximately ¥5 trillion ($32 billion) in assets under management. The company is maintaining vertical integration across the product lifecycle, managing design, development, and distribution internally. Rakuten Securities is pursuing a parallel strategy through Rakuten Investment Management, with a specific focus on enabling direct trading of these products within its smartphone applications—matching existing patterns of retail crypto activity. Both institutions benefit from pre-existing licensed cryptocurrency exchange operations, providing established infrastructure and regulatory relationships essential for launching these vehicles.
The initiative reflects accelerating regulatory momentum in Japan. A Nikkei survey of 18 financial firms revealed that 11 additional institutions—including major traditional finance players Nomura, Daiwa, and Mizuho Securities—expressed willingness to enter the crypto investment trust market once regulatory frameworks are finalized. This broad institutional interest signals confidence that Japanese regulatory approval for cryptocurrency funds is forthcoming, with potential approval timelines extending to 2028. The convergence of regulatory clarity and established distribution networks through major brokerages positions Japan's retail cryptocurrency market for significant structural expansion, potentially reshaping how millions of Japanese investors access digital assets.
SBI Securities plans to distribute trusts developed by group company SBI Global Asset Management, which has set an ambitious three-year target of approximately ¥5 trillion ($32 billion) in assets under management. The company is maintaining vertical integration across the product lifecycle, managing design, development, and distribution internally. Rakuten Securities is pursuing a parallel strategy through Rakuten Investment Management, with a specific focus on enabling direct trading of these products within its smartphone applications—matching existing patterns of retail crypto activity. Both institutions benefit from pre-existing licensed cryptocurrency exchange operations, providing established infrastructure and regulatory relationships essential for launching these vehicles.
The initiative reflects accelerating regulatory momentum in Japan. A Nikkei survey of 18 financial firms revealed that 11 additional institutions—including major traditional finance players Nomura, Daiwa, and Mizuho Securities—expressed willingness to enter the crypto investment trust market once regulatory frameworks are finalized. This broad institutional interest signals confidence that Japanese regulatory approval for cryptocurrency funds is forthcoming, with potential approval timelines extending to 2028. The convergence of regulatory clarity and established distribution networks through major brokerages positions Japan's retail cryptocurrency market for significant structural expansion, potentially reshaping how millions of Japanese investors access digital assets.
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