Japanese financial giant SBI Group is teaming up with U.S. asset manager Franklin Templeton in anticipation of potential approval for crypto funds in Japan. The collaboration aims to introduce spot Bitcoin exchange-traded funds (ETFs) to the Japanese market.

In this joint venture, SBI Group will hold a 51% stake, while Franklin Templeton will own the remaining part. While spot Bitcoin ETFs have been approved in the U.S., Hong Kong, and a few other countries, Japan has yet to make a decision regarding this financial product.

The collaboration between SBI Group and Franklin Templeton indicates that Japan’s Financial Services Agency may eventually approve the ETF, though no timeframe has been revealed so far. The joint venture is expected to offer crypto securities, though specific details have not been disclosed.

Japan’s Growing Interest in Digital Assets

This development follows reports that Japan’s Government Pension Investment Fund, the largest pension fund in Japan, might explore investments in alternative assets such as Bitcoin and gold. The fund plans to examine the possibility of accommodating Bitcoin and other commodities, including farmlands, forests, and precious metals.

In mid-February, the Japanese cabinet approved the inclusion of crypto among the assets that local investment limited partnerships firms can acquire or hold. This move is part of Prime Minister Fumio Kishida’s “new capitalism” policy, under which Japan has been actively working to cultivate its web3 industry.

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