A group of prominent Japanese companies is urging regulators to prioritize crypto ETFs that focus on major digital assets such as Bitcoin and Ethereum. This recommendation, which involves financial giants like Mitsubishi UFJ Trust and Banking, Nomura, Daiwa Securities, and the country’s top crypto exchange bitFlyer, emphasizes the stable and large-cap nature of these tokens, making them attractive for long-term investors.
The coalition’s report, released on Friday, also calls for a revised tax framework for cryptocurrencies, specifically advocating for separate tax treatment for income generated from digital assets. This push aligns with Japan’s ongoing evaluation of international regulatory changes in order to determine its own position on crypto ETFs.
The momentum for digital assets in Japan has been steadily growing, highlighted by Metaplanet’s decision to adopt Bitcoin as a strategic reserve. This move is seen as a hedge against Japan’s debt risks and the volatility of the yen.
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With approximately 855 Bitcoin (worth around $56 million) in its holdings, Metaplanet is also analyzing the impact of its BTC holdings on shareholder value by using MicroStrategy’s BTC Yield strategy.
