Bitcoin ETF · Japan · Bitcoin · Bitcoinist
The Next Bitcoin ETF Boom May Be Coming From Japan, Here’s Why
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The US Spot Bitcoin ETFs are experiencing a sustained bearish performance, especially as the premier cryptocurrency succumbs to another wave of correction.
Key facts
- As of this writing, the price of BTC stands around $61,038, reflecting a 2.81% decline in the past 24 hours
- If the regulation reforms were successful, it is worth noting that there are about ¥2,350 trillion ($14.66 trillion) in household financial assets and about ¥300 trillion ($1.87 trillion)
- In a base-case and most-likely scenario, deposits in the Japanese Bitcoin ETF could surge to around ¥1.4 trillion ($8.73 billion) upon launch
- Recent data suggest that these ETFs recorded 13 consecutive trading days of net outflows between Mid-May and early June, with investors pulling out about $4.33 billion
Summary
In a quicktake post on the CryptoQuant platform, analytics group XWIN Research Japan reported that after years of approving the US Spot Bitcoin ETFs, investors and market participants are starting to anticipate which country might produce the next major ETF market, with Japan emerging as a likely candidate. In a QuickTake post on June 3, XWIN analysts report that, first, Japanese regulators were pushing reforms that would shift the jurisdiction of crypto assets from the Payment Service Act framework to the Financial Instruments and Exchange Act, so they could be recognized as investment products. If the regulation reforms were successful, it is worth noting that there are about ¥2,350 trillion ($14.66 trillion) in household financial assets and about ¥300 trillion ($1.87 trillion) in investment funds.