SBI and Rakuten Plan Crypto Investment Trusts via Japan Brokerage Accounts

Japan’s largest online securities firms are preparing to offer retail investors regulated cryptocurrency products through standard brokerage accounts, a shift expected to expand access to Bitcoin and Ethereum as regulators move to clarify rules for funds that can hold digital assets.

SBI Securities and Rakuten Securities said they are developing cryptocurrency investment trusts within their broader corporate groups, according to reports. The proposed products would allow customers to gain exposure to major digital assets without opening a dedicated crypto exchange account or setting up a crypto wallet. Instead, investors would buy into the trust using existing securities accounts, with the vehicles expected to track the prices of assets such as Bitcoin and Ethereum.

SBI Securities plans to market funds developed by SBI Global Asset Management, with product development and distribution handled in-house. Rakuten Securities is taking a similar approach, working with Rakuten Investment Management to create products that can be traded through users’ existing smartphone-based brokerage apps. The firms’ plans also envision exchange-traded fund structures alongside investment trusts,...