Japan may approve its first spot Bitcoin exchange-traded fund as early as 2028, according to a report from Nihon Keizai Shimbun. The development follows the enactment of a landmark bill on July 15 that legally classifies cryptocurrencies as financial products, marking a significant shift in the country’s regulatory approach to digital assets.

New Law Paves the Way for Crypto ETFs

The legislation, which redefines cryptocurrencies under Japan’s financial regulatory framework, has prompted the Financial Services Agency to begin revising rules related to investment trusts. This revision is a critical step toward allowing asset managers to launch spot Bitcoin ETFs, which would track the price of Bitcoin directly rather than through…