Osaka Exchange, a subsidiary of Japan Exchange Group (JPX), plans to introduce Bitcoin futures in 2028 as part of preparations for a regulated crypto investment market. The move is aimed at supporting institutional investors who will likely enter the market once Bitcoin exchange-traded funds are approved in Japan.
Akira Tagaya, President and CEO of Osaka Exchange, said Bitcoin futures would be necessary if ETFs are legalized, as they would help investors hedge risk linked to crypto exposure. The contracts are expected to serve as a risk management tool for funds holding Bitcoin-linked ETFs and other crypto investment products.
🇯🇵 JUST IN : OSAKA EXCHANGE PLANS TO LAUNCH BITCOIN FUTURES IN 2028 pic.twitter.com/zgVcUx7kXr
— Tiger Research (@tiger_research_) June 11, 2026
How Japan is building the legal framework for crypto ETFs and derivatives
Japan is currently working on major legal reforms that could allow crypto ETFs and investment trusts to operate under the Financial Instruments and Exchange Act. A bill submitted by the Financial Services Agency proposes changing crypto regulation from the Payment Services Act into securities law, bringing it closer to traditional financial instruments.
Further changes are also required to the Investment Trust Enforcement Order to allow crypto assets to be included as “specified assets” for investment trusts. Tax treatment rules are also expected to be clarified as part of the process.
Market timelines remain flexible, with ETF approval potentially arriving as early as 2027, though some projections place full rollout in 2028, depending on regulatory progress.
How exchanges and brokerages are positioning for Japan’s crypto market expansion
Other market participants are also preparing for the shift. The Dojima Exchange has previously indicated plans to seek approval for yen-denominated Bitcoin futures, although trading has not yet begun. Meanwhile, several major securities firms, including Nomura, Daiwa, SMBC Nikko, and Rakuten Securities, are exploring crypto-linked investment trusts.
JPX leadership has also suggested that crypto ETFs could be listed on the Tokyo Stock Exchange within the next few years if regulatory conditions are met. Industry expectations point to a gradual integration of crypto assets into Japan’s traditional financial system, with derivatives and ETFs serving as the core infrastructure for institutional participation.
In another development, Japan’s Financial Services Agency (FSA) introduced a new regulatory framework that took effect on June 1, 2026. The new system creates a category called “electronic payment instrument and crypto asset service intermediary business,” allowing firms to legally provide limited crypto-related services under a lighter registration structure.
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