SBI Securities, Rakuten Securities to Roll Out In-House Crypto Investment Trust Products

BlockBeats reports that SBI Securities and Rakuten Securities plan to start selling cryptocurrency-linked investment trust products on May 17, as Japan's brokerage industry prepares for a potential regulatory green light. According to a Nikkei survey of 18 major brokerages, 11 said they would consider offering similar products once a formal regulatory framework is in place. Nomura Securities and other large firms signaled they may follow after rules are clarified. SBI Securities said it will distribute funds created by group subsidiary SBI Global Asset Management, including ETFs and investment trusts tied to highly liquid cryptocurrencies such as Bitcoin and Ethereum. Product development and sales will be handled within the SBI group. Rakuten Securities also plans to develop products internally in partnership with group companies, including Rakuten Investment Management, with the goal of enabling crypto investment trust trading through its mobile app. On the policy side, Japan's Financial Services Agency is moving toward allowing investment trusts and ETFs to include cryptocurrencies. Authorities plan to revise the Enforcement Order of the Investment Trust and Investment Corporation Act by 2028 to designate cryptocurrencies as eligible assets for investment trusts. The Japanese government approved the related bill amendment on April 10; if enacted during the current Diet session, it is expected to take effect in fiscal 2027. Once implemented, the tax rate on cryptocurrency trading gains is expected to fall from the current maximum of 55% to 20%, matching the treatment for stocks and bonds.