Japan Could Launch Its First Spot Bitcoin ETF as Early as 2028

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According to the Financial Services Agency, Japan could approve and list its first spot Bitcoin exchange-traded fund as early as 2028, marking a reversal in regulations that historically prevented investment trusts from holding cryptocurrencies directly. The FSA is considering adding digital assets to eligible holdings for investment trusts and ETFs, which would remove a key legal barrier to listing Bitcoin ETF products on the Tokyo Stock Exchange. Major Japanese financial groups including SBI Holdings and Nomura have reportedly begun preparing crypto investment products ahead of the regulatory change. The 2028 timeline remains provisional and depends on regulatory amendments, product approvals and potential revisions to Japan's crypto taxation framework.
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