TechFlow news, October 25 — According to Bloomberg, an industry group comprising major Japanese financial institutions—including prominent trust banks such as Mitsubishi UFJ and Sumitomo Mitsui, cryptocurrency exchanges like bitFlyer, and brokerage firms including Nomura Securities and SBI Securities—has released a recommendation report on cryptocurrency exchange-traded funds (ETFs). The group urges that when discussing the approval of crypto ETFs, priority should be given to major tokens such as Bitcoin and Ethereum.
The report states that Bitcoin and Ethereum, due to their large market capitalizations and "stable track records," are more suitable for investors' "medium- to long-term asset allocation." These recommendations aim to provide guidance for Japanese regulators considering whether to follow overseas markets in permitting cryptocurrency ETFs.
