According to BlockBeats, on May 17th, SBI Securities and Rakuten Securities announced plans to develop and sell cryptocurrency investment trust products. SBI Securities will launch funds including highly liquid cryptocurrencies such as Bitcoin and Ethereum through its subsidiary SBI Global Asset Management, with development and sales handled internally. Similarly, Rakuten Securities also plans to develop products in collaboration with group companies, including Rakuten Investment Management, targeting trading via smartphone applications. A survey by Nikkei with 18 major brokerage firms showed that 11 companies are willing to participate in the market once regulatory frameworks are established.

The Financial Services Agency of Japan is pushing for regulatory amendments to allow investment funds and ETFs to hold cryptocurrencies, with plans to revise the implementing regulations of the Investment Trust Law by 2028. The government approved related legislation on April 10th, expected to take effect in the 2027 fiscal year. Once implemented, capital gains tax on crypto transactions will be reduced from the current maximum of 55% to 20%, aligning with the tax rates applied to stocks and bonds.