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JPX CEO Says Crypto ETF Could List as Early as Next Year, by 2028 at Latest

JOON HYOUNG LEE

Summary

Japan Exchange Group said it could list a cryptocurrency ETF as soon as next year and by 2028 at the latest.
Yamaji said asset managers are showing strong interest in developing cryptocurrency ETF products and that the exchange is ready to begin the listing process as soon as legal and tax treatment are clarified.
Yamaji said 160 yen per dollar reflects excessive weakness, that 130 yen to 140 yen is an appropriate range, and that a stable exchange rate is the best way to attract global capital.

*JPX Chief Executive Officer Hiromi Yamaji speaks during an interview with Bloomberg TV on April 30. Photo: Bloomberg TV capture*

Japan Exchange Group Inc. could list a cryptocurrency exchange-traded fund as early as next year.

Chief Executive Officer Hiromi Yamaji told Bloomberg TV in an interview on April 30 that JPX may list a crypto ETF as soon as next year. The exchange operator aims to launch one by 2028 at the latest.

JPX said in March 2025 that it wanted to attract global capital by listing crypto-related financial products. Asset managers have shown strong interest in developing cryptocurrency ETF products, Yamaji said. The exchange is ready to begin the listing process as soon as the legal framework and tax treatment are clarified.

Yamaji also commented on the yen. The Japanese currency briefly weakened past 160 per dollar in Tokyo trading on April 30, its weakest intraday level in about one year and nine months. He said 160 yen per dollar was excessively weak and that 130 yen to 140 yen was a more appropriate range. A stable exchange rate is the best way to attract global capital, he added.

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