SBI Securities, Rakuten Securities Plan Crypto Investment Trust Products on May 17

According to BlockBeats, on May 17, SBI Securities and Rakuten Securities announced plans to develop and sell cryptocurrency investment trust products. SBI Securities will launch funds covering high-liquidity cryptocurrencies including Bitcoin and Ethereum through its subsidiary SBI Global Asset Management, with development and sales handled in-house. Rakuten Securities similarly plans to develop products in collaboration with group members including Rakuten Investment Management, targeting smartphone app trading. A Nikkei survey of 18 major brokers found 11 firms indicated willingness to enter the market once regulatory frameworks are established.

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