Japan May Approve Spot Bitcoin ETF as Early as 2028

Japan's regulatory authorities are adjusting the legal framework for digital asset investments, with a spot Bitcoin ETF potentially being approved for listing as early as 2028. The specific timeline will depend on the progress of regulations, product reviews, and tax reforms. On July 15, the Japanese Diet approved the transfer of Bitcoin and approximately 105 other cryptocurrencies from the Payment Services Act to the Financial Instruments and Exchange Act, removing legal barriers for related funds to be listed on the Tokyo Stock Exchange. Major financial groups such as SBI Holdings and Nomura are preparing digital asset products. Additionally, Japan plans to adjust its cryptocurrency tax regime from a maximum miscellaneous income tax rate of 55% to a separate declaration tax rate of approximately 20.315%.

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