Japan's SBI and Rakuten plan to sell cryptocurrency investment trust products.

CoinFeed reported on May 17th that, according to the Nikkei, SBI Securities and Rakuten Securities plan to sell cryptocurrency investment trust products, while several other major securities firms, including Nomura Securities, indicated they will consider following suit once the regulatory framework is established. A Nikkei survey of 18 major securities firms found that 11 indicated they would consider offering related products after regulations are finalized. SBI Securities plans to sell funds developed by its subsidiary SBI Global Asset Management, covering ETFs and investment trusts of highly liquid cryptocurrencies such as Bitcoin and Ethereum, with product development and sales all completed internally within the group. Rakuten Securities also plans to collaborate with Rakuten Investment Management and other group members to independently develop products, aiming to facilitate trading of cryptocurrency investment trusts through a smartphone app.