Bitcoin Exchange-Traded Funds Now Seem to Be on Track to Be Launched in Japan

After their groundbreaking success in the U.S., Bitcoin exchange-traded funds now seem to be on track to be launched in Japan.

Bitcoin exchange-traded funds (ETFs) are finally set to be launched in Japan after their groundbreaking success in the U.S.

A recent report by Nikkei Asia revealed that Japanese financial giant SBI is joining forces with American multinational holding company Franklin Templeton to bring Bitcoin ETFs to the world's third-biggest economy.

The two companies will jointly establish a cryptocurrency management firm that will be able to launch a Bitcoin ETF in Japan as soon as it receives regulatory approval.

Bitcoin ETFs are already available in countries such as Canada, Brazil, and the U.S. However, Japanese financial regulators have not yet given the green light to such products.

Earlier this year, Franklin Templeton became one of the first firms to offer a Bitcoin ETF in the U.S. Recently, it also launched its own Ethereum ETF on the Chicago Board Options Exchange (CBOE) exchange.

The U.S.-based investment firm does not plan to stop there. Recently, it also started exploring the possibility of launching a Solana-based ETF.

Bitcoin ETFs see more inflows

In the meantime, U.S.-based Bitcoin ETFs are expanding their streak of inflows.

On Thursday, BlackRock's IBIT attracted $70.7 million in inflows. This was more than enough to offset GBTC's outflows, which came close to $40 million.

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