Major Japanese wealth managers are gearing up to launch the nation’s first crypto-based investment trusts as regulators signal a major shift toward pro-crypto reform. Firms including Daiwa Asset Management, Asset Management One, Amova Asset Management, Mitsubishi UFJ Asset Management, and SBI Global Asset Management confirmed they are exploring new crypto investment products.

Momentum is rising as the Financial Services Agency weighs reclassifying digital assets under the Financial Instruments and Exchange Act, a move that would treat crypto like traditional financial products. The reform package, expected to be finalized in the 2026 parliamentary session, could lower crypto taxes to a flat 20% and open the door to crypto-focused investment trusts for retail and institutional investors. SBI Global Asset Management also revealed plans for bitcoin and ether ETFs, targeting roughly 5 trillion yen ($32 billion) in managed assets within three years.

Japan’s broader regulatory push includes stricter custody rules and growing support for stablecoins. Policymakers have backed a multi-bank yen-stablecoin initiative, underscoring Tokyo’s commitment to integrating digital assets into its long-term financial infrastructure.

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