A group of Japanese financial institutions has recommended that the government prioritize major tokens like Bitcoin and Ethereum for potential cryptocurrency exchange-traded funds (ETFs). They argue that the large market value and stable track record of these cryptocurrencies make them attractive for long-term asset building. The group, consisting of major financial institutions, crypto exchanges, and brokerages, also called for a review of Japan's taxation system. However, Japanese regulators remain cautious about spot crypto ETFs due to conservative regulatory constraints and negative public perception following past incidents like Mt. Gox and DMM. Nevertheless, some Japanese firms, including Franklin Templeton and SBI Holdings, remain optimistic about cryptocurrency and have partnered to develop new products such as crypto ETFs. Meanwhile, other countries like the US, Hong Kong, and Australia have already approved their own crypto ETFs.



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