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Japanese Financial Institutions Push for Bitcoin and Ether in Crypto ETF Talks
Proposal Urges Focus on Major Tokens
Japanese companies recommend prioritizing Bitcoin and Ether if crypto ETFs are permitted
A group of Japanese financial institutions has put forth proposals urging the government to consider major cryptocurrencies such as Bitcoin and Ethereum in discussions about allowing exchange-traded funds (ETFs) for digital assets.
Key Recommendations for Crypto ETFs
Emphasis on Bitcoin and Ethereum for Potential ETF Inclusion
The group emphasized in their proposal that Bitcoin and Ethereum should take precedence if Japan decides to move forward with crypto ETFs. Citing the sizable market value and stable performance of these two cryptocurrencies, they believe they provide a solid foundation for investors looking to grow their assets over the long term.
Industry Players Behind the Proposal
Collaboration of Major Financial Institutions
The group comprises prominent institutions including trust banks like Mitsubishi UFJ Trust and Banking Corp., leading crypto exchanges such as bitFlyer Inc., and established brokerages like Nomura Securities and SBI Securities. Their collective recommendations reflect a unified stance rather than individual perspectives.
Regulatory Hurdles and Industry Optimism
Challenges in Approving Crypto ETFs in Japan
While the proposal advocates for Bitcoin and Ethereum, industry insiders highlight the cautious approach of Japanese regulators towards spot crypto ETFs. The past incidents involving Mt. Gox and DMM have contributed to a conservative stance by authorities due to regulatory constraints and public perception concerns.
Global Shift Towards Crypto ETFs
International Adoption of Digital Asset Investment Vehicles
Despite the challenges in Japan, there has been a global trend towards embracing crypto ETFs. Countries like the United States, Hong Kong, and Australia have already approved their own spot cryptocurrency ETFs, signaling a growing acceptance and integration of digital assets into traditional investment portfolios.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
