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At least six major Japanese asset managers are exploring crypto investment products.
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Regulators are working on reclassifying crypto as financial instruments and cutting tax on crypto gains to 20 percent.
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Planned changes would allow crypto assets inside investment trusts for the first time.
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SBI and Nomura are building product pipelines ahead of the rule shift.
Big Japanese Managers Line Up For Crypto
Japan’s largest asset managers are positioning for a major regulatory pivot that could open the door to crypto investment trusts. According to local reports, firms including Daiwa Asset Management, Asset Management One, Amova Asset Management, Mitsubishi UFJ Asset Management, and others are considering launching crypto based products.
Under current rules, crypto assets cannot be included in investment trusts, sharply limiting mainstream exposure. That may change as policymakers debate reforms to bring digital assets into the core of Japan’s capital markets framework.
Reclassification And Tax Relief As Key Catalysts
The Financial Services Agency is evaluating a plan to reclassify cryptocurrencies under the Financial Instruments and Exchange Act instead of the Payment Services Act. The shift is part of a broader agenda to treat crypto as a regulated financial product. A key plank is lowering the tax rate on crypto gains from a maximum 55 percent to a flat 20 percent, matching stocks and bonds.
If parliament adopts the reforms during the 2026 ordinary session, follow on changes to the Investment Trust Act would allow asset managers to offer crypto focused investment trusts to retail, and later institutional, clients.
SBI, Nomura And Others Prepare Product Pipelines
SBI Global Asset Management has signaled plans to launch bitcoin and ether ETFs alongside diversified crypto trusts, targeting around 5 trillion yen, roughly 32 billion dollars, in assets within three years. Nomura Asset Management has formed internal task forces and says its systems are now ready to support crypto products once rules are finalized.
Japan is also tightening custody requirements and backing a yen stablecoin initiative with three major banks. Together, those steps show Tokyo moving toward a more structured, institution friendly digital asset regime, setting the stage for a new wave of regulated crypto investment products.
