Japan's SBI Securities and Rakuten Securities Plan to Independently Develop Crypto Investment Trust Products

Foresight News reports, according to the Nikkei, SBI Securities and Rakuten Securities plan to begin selling cryptocurrency investment trust products, while major brokerages such as Nomura Securities have stated they will consider following suit once a regulatory framework is established. The Nikkei conducted a survey of 18 major brokerages, with 11 indicating they would consider offering related products after regulations are implemented. SBI Securities plans to sell funds developed by its group subsidiary, SBI Global Asset Management, which will include ETFs and investment trusts covering highly liquid cryptocurrencies such as Bitcoin and Ethereum. The entire process, from product development to sales, will be completed within the group. Similarly, Rakuten Securities plans to collaborate with Rakuten Investment Management and other group members to independently develop products, aiming to enable cryptocurrency investment trust transactions via smartphone apps. On the regulatory front, Japan's Financial Services Agency is promoting the inclusion of cryptocurrencies in investment trusts and ETFs, with plans to amend the Investment Trust Law enforcement order by 2028 to classify cryptocurrencies as a specific asset category eligible for investment trusts. The Japanese government approved related legislative amendments on April 10, and if passed during the current parliamentary session, they are expected to take effect in the 2027 fiscal year. At that time, the tax rate on cryptocurrency trading profits will be reduced from the current maximum of 55% to 20%, aligning with the rates for stocks and bonds.