Nikkei Asia: SBI and Rakuten Plan Crypto Trusts as Japan FSA Targets 2028 Rule Changes

SBI Securities and Rakuten Securities are preparing in-house cryptocurrency investment trusts that would let retail brokerage clients gain exposure to bitcoin and ethereum without using a separate exchange account or wallet. Japan's Financial Services Agency is aiming for 2028 amendments to the Investment Trust Act, while a separate bill approved in April 2026 could take effect in fiscal 2027 if passed. A Nikkei Asia survey found multiple major brokerages may consider offering similar products once the regulatory framework is finalized.