TechFlow reported on October 23 that, despite markets such as the U.S. and Hong Kong having approved spot cryptocurrency ETFs, Japanese regulators remain cautious. Oki Shiozawa, investment director at Sumitomo Trust Asset Management, said the Ministry of Finance generally holds a skeptical view toward cryptocurrencies, while the Financial Services Agency tends to be conservative in approving financial products.
Keisuke Kimura, vice chairman of the Japan Virtual and Crypto Assets Business Association, pointed out that current Japanese law does not allow crypto assets to be included in investment trusts, including ETFs. He emphasized that changing this situation would require broader societal acceptance that crypto assets can positively contribute to wealth formation for Japanese citizens.
