Japan is moving closer to allowing Bitcoin exchange-traded funds (ETFs). The country’s first product could potentially arrive in 2028 if planned regulatory changes move forward, according to the latest Nikkei report.

The development comes after amendments approved by lawmakers that bring crypto assets under the Financial Instruments and Exchange Act, prompting the Financial Services Agency (FSA) to begin revising investment-fund rules so investment trusts and ETFs can directly hold digital assets.

The transition also means that crypto oversight will move away from the Payment Services Act.

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