Japan’s Top Asset Managers Prepare for Nation’s First Crypto Trusts Amid Regulatory Shift
Japan’s largest asset management firms are positioning themselves to launch the country’s inaugural cryptocurrency investment trusts. The move comes as regulators prepare to overhaul the classification of digital assets under financial law by 2026.
The Financial Services Agency (FSA) plans to reclassify cryptocurrencies under the Financial Instruments and Exchange Act, granting them the same investor protections as traditional securities. A concurrent tax overhaul could replace the current top rate of 55% with a flat 20% levy on crypto gains.
SBI Global is spearheading the initiative, targeting ¥5 trillion in crypto assets under management through new ETFs and multi-asset trusts. Six major firms—including Daiwa Asset Management and Mitsubishi UFJ—are actively developing crypto trust products ahead of the anticipated regulatory changes.
