Japan’s Top Asset Managers Plan Crypto Investment Trusts Ahead of Regulatory Shift

TLDR

• Six major Japanese asset managers are preparing to launch cryptocurrency investment products.
• Japan’s FSA may reclassify crypto under the Financial Instruments and Exchange Act by 2026.
• Asset managers like Nomura and Daiwa are building systems to support crypto investment trust rollouts.
• SBI Global Asset Management plans ETFs tied to Bitcoin and ether, targeting $32 billion in assets.
• Japan is introducing custody rules and backing stablecoin projects with three major domestic banks.

Japan’s major asset management firms are preparing to enter the cryptocurrency market ahead of expected regulatory reforms. According to a report by Nikkei, at least six major firms are developing plans to introduce crypto-based investment products. The move marks a shift in the country’s investment space, driven by anticipated legal adjustments that could classify digital assets under traditional financial rules. Currently, Japan’s Investment Trust Act does not permit the inclusion of cryptocurrencies in investment trusts, but upcoming reforms may change that.

Major Firms Explore New Crypto Products

Daiwa Asset Management, Mitsubishi UFJ Asset Management, Asset Management One, and Amova Asset Management are among the firms evaluating the launch of cryptocurrency investment trusts. These companies are preparing to offer retail and institutional investors access to digital asset portfolios once regulations permit. 

According to reports, Nomura Asset Management has formed internal teams dedicated to crypto strategies. Their systems are reportedly ready for deployment when the legal framework is finalized. Japan’s Financial Services Agency (FSA) is considering reclassifying cryptocurrencies under the Financial Instruments and Exchange Act. 

This shift would move digital assets away from the Payment Services Act, placing them under the same legal structure as traditional securities. If adopted, this change would also enable amendments to the Investment Trust Act, potentially allowing crypto assets in managed portfolios. The FSA is expected to present these legal updates during the 2026 ordinary parliamentary session.

ETFs and Diversified Products Also in Development

SBI Global Asset Management is preparing to launch exchange-traded funds (ETFs) linked to Bitcoin and ether. The company also plans diversified crypto investment trusts, with a target of managing $32 billion within three years of launch. These plans signal readiness to expand digital asset offerings once the regulatory environment becomes favorable

In addition to investment reforms, Japan is tightening rules on crypto asset custody. New policies may require all custody services to register with authorities. At the same time, the government has backed a yen-pegged stablecoin project involving three major banks, signaling a long-term interest in integrating stablecoins into Japan’s financial system.

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