SBI and Rakuten Develop Crypto Investment Trusts for Retail Investors, Nomura to Follow

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According to Nikkei, Japan's major brokerages are preparing to launch crypto investment trusts for retail investors. SBI Securities plans to offer funds developed by group company SBI Global Asset Management, covering Bitcoin and Ethereum, while Rakuten Securities is building products tradeable through smartphone apps. Nomura, Daiwa, and SMBC have also announced plans to develop similar products. The move comes as Japan's Financial Services Agency prepares to revise the Investment Trust Act by 2028 to formally add cryptocurrencies as specified assets investment trusts can hold.
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