Japan’s Asset Managers Set to Launch Crypto Investment Trusts Before 2026

Highlights:

• Japan’s asset managers are planning crypto investment trusts before 2026.
• FSA aims to reclassify crypto under securities law by 2026.
• SBI targets ¥5 trillion AUM in crypto-focused ETFs and trusts.

Japan’s largest asset managers are planning to enter the crypto market. This follows regulators’ move to revise the regulations governing digital assets. A report in Nikkei stated that the Financial Services Agency (FSA) is providing proposals that would become effective by 2026.

These changes will enable companies to incorporate cryptocurrencies in investment trusts. Today, under outdated laws, crypto is prohibited in such financial products in Japan. Moreover, the reforms will redefine digital assets through the Financial Instruments and Exchange Act. This would bring crypto to the same status as stocks and bonds.

JUST IN: 🇯🇵 Japan’s largest asset managers including Nomura are planning to launch #Bitcoin and crypto investment products.

Asia is coming 🚀 pic.twitter.com/5pbsYbNjol

— Bitcoin Magazine (@BitcoinMagazine) November 24, 2025

Regulatory Shift Sparks Market Activity

SBI Global Asset Management is at the forefront. The company is scheduled to introduce crypto investment trusts and funds based on Bitcoin and Ethereum. It also plans to provide diversified crypto products. SBI is targeting ¥5 trillion in assets under management by the end of three years, according to the company’s targets.

Other large companies are also making moves. A survey conducted by Nikkei revealed that there are six Japan’s asset managers involved. These include Daiwa Asset Management, Asset Management One, Amova, and Mitsubishi UFJ. Nomura Asset Management has similarly established internal teams to be ready to roll out.

The regulatory overhaul scheduled by Japan will involve a significant tax shift. As of now, crypto proceeds are taxed at up to 55%. The profits will rather be subjected to a flat 20% tax under the planned legislation. That is equivalent to the tax rate on traditional investment income.

The FSA proposes to accept these changes at the regular parliamentary session in 2026. The Investment Trust Act will also be amended as soon as it is approved. This will consequently make crypto investment trusts legal in Japan.

Japan Moves Toward Crypto Financial Integration

The FSA has been expanding its digital asset framework on multiple fronts. It also proposed stricter custody regulations of digital assets in November. The new regulations will only allow licensed custodians to possess crypto. This follows a period of boosting investor protection in Japan following a number of security lapses around the world.

The country is also examining the development of stablecoins. Recently, three significant banks backed a yen-based stablecoin project. This is part of a broader approach of Tokyo to create a stable ecosystem of digital finance.

Japan’s Financial Services Agency has announced support for a pilot project in which MUFG, SMBC, and Mizuho will jointly issue a yen-backed stablecoin. As the first initiative under the Payment Innovation Project (PIP), the experiment aims to test the legal and operational…

— Wu Blockchain (@WuBlockchain) November 7, 2025

In addition, there are approximately 13 million crypto trading accounts in Japan, showing the increasing popularity of digital assets. Crypto investment trusts are viewed by officials as a method of mobilizing household savings. FSA leadership believes that these trusts could be used to divert more capital into the financial markets.

Meanwhile, the U.S. has already established a precedent globally. By September, the Bitcoin ETF at BlackRock had more than $90 billion in assets. The new Japan strategy would pursue such a lead. Japan’s asset managers are making early preparations to capitalize on the market opportunities once the laws change.

Cryptocurrency investment trusts will provide investors with a more tax-efficient and regulated exposure to cryptocurrencies. These products will also assist in incorporating crypto into Japan’s broader financial system.