Japan’s Path to Bitcoin ETFs Lined With Obstacles
Listen to this article
1x
Bitcoin ETFs must first be approved under the country’s investment trust law, which specifies what trusts can put money into. Photo: VCG
(Nikkei Asia) — Japan appears hesitant to scale the tax and other hurdles that stand in the way of approving exchange-traded funds (ETFs) that track bitcoin prices despite growing expectations in the cryptocurrency industry.
The tension between regulators and the financial sector comes after the U.S. approved the first bitcoin ETFs in January. Among them, an ETF managed by BlackRock Inc. has amassed $16.5 billion worth of bitcoins.
You’ve accessed an article available only to subscribers
VIEW OPTIONS
Download our app to receive breaking news alerts and read the news on the go.
Get our weekly free Must-Read newsletter.
Share this article
Open WeChat and scan the QR code
Read More: Japan’s Path to Bitcoin ETFs Lined With Obstacles