Japan expected to approve spot crypto ETFs by 2028

Japan's Financial Services Agency (FSA) is expected to permit the trading of spot cryptocurrency ETFs, including Bitcoin, by 2028, Nikkei reported. The agency plans to amend the enforcement order of the Investment Trust Act to classify cryptocurrencies as "specified assets" eligible for investment. Major financial institutions such as SBI Holdings and Nomura Holdings are reportedly developing related products. If approved for listing on the Tokyo Stock Exchange, these ETFs would also become available to retail investors.