Japan’s SBI Securities and Rakuten Securities plan to launch cryptocurrency investment trust products.

According to the <i>Nikkei</i>, SBI Securities and Rakuten Securities plan to launch cryptocurrency investment trusts. Meanwhile, several major brokerages—including Nomura Securities—have stated they will consider following suit once the regulatory framework is established. A <i>Nikkei</i> survey of 18 major brokerages found that 11 indicated they would consider offering such products after regulations are finalized. SBI Securities plans to sell funds developed by its subsidiary SBI Global Asset Management, covering ETFs and investment trusts focused on highly liquid cryptocurrencies such as Bitcoin and Ethereum; the entire process—from product development to distribution—will be handled internally within the SBI Group. Similarly, Rakuten Securities plans to jointly develop its own products with group members including Rakuten Investment Management, aiming to enable trading of cryptocurrency investment trusts via smartphone apps.