{"id":2838,"date":"2024-06-30T11:10:27","date_gmt":"2024-06-30T11:10:27","guid":{"rendered":"https:\/\/bitcoin-zukan.com\/?p=2838"},"modified":"2024-06-30T11:10:30","modified_gmt":"2024-06-30T11:10:30","slug":"etf","status":"publish","type":"post","link":"https:\/\/bitcoin-zukan.com\/en\/investment-en\/etf\/","title":{"rendered":"Will the Day Come When Bitcoin ETFs Can Be Bought in Japan?"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-9-1024x576.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3ETF\u304c\u65e5\u672c\u3067\u8cb7\u3048\u308b\u65e5\u306f\u6765\u308b\u306e\u304b\uff1f\u3044\u3064\u627f\u8a8d\u3055\u308c\u305f\u304b\u30fb\u627f\u8a8d\u6642\u306e\u4fa1\u683c\u30c1\u30e3\u30fc\u30c8\u3092\u7d39\u4ecb\" class=\"wp-image-1571\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-9-1024x576.jpg 1024w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-9-300x169.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-9-768x432.jpg 768w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-9.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon2\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Bitcoin ETFs have been approved, but does that mean we can&#8217;t buy them in Japan?<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<p class=\"\">Although the Bitcoin ETF that had been attracting attention since around 2023 has finally been approved, at present, Bitcoin ETFs cannot be purchased in Japan. The Japan Cryptocurrency Business Association (JCBA) has begun organizing the feasibility, including legal regulations, of cryptocurrency spot ETFs, and progress is awaited in various quarters.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">In this article, I&#8217;ll introduce information related to Bitcoin ETFs and price charts from when Bitcoin futures and spot ETFs were approved in the past.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<p class=\"\"><br><p class=\"is-style-st-paragraph-memo\">This article was written in Japanese and converted to English using a translation tool.Date of writing (Japanese version): January 2024<\/p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Will the Day Come When Bitcoin ETFs Can Be Bought in Japan?<\/h2>\n\n\n\n<blockquote class=\"twitter-tweet\"><p lang=\"ja\" dir=\"ltr\">\u3010\u65b0\u7740\u60c5\u5831\u66f4\u65b0\u3011\u6697\u53f7\u8cc7\u7523\u306a\u3069\u306e\u975e\u7279\u5b9a\u8cc7\u7523\u7b49\u3092\u6295\u8cc7\u5bfe\u8c61\u3068\u3059\u308b\u6295\u8cc7\u4fe1\u8a17\u7b49\u306e\u7d44\u6210\u30fb\u8ca9\u58f2\u304c\u9069\u5f53\u3067\u306f\u306a\u3044\u3053\u3068\u7b49\u306b\u3064\u3044\u3066\u8ffd\u8a18\u3057\u305f\u300c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u696d\u8005\u7b49\u5411\u3051\u306e\u7dcf\u5408\u7684\u306a\u76e3\u7763\u6307\u91dd\u300d\u306e\u4e00\u90e8\u6539\u6b63\uff08\u6848\uff09\u306b\u3064\u3044\u3066\u516c\u8868\u3057\u307e\u3057\u305f\u3002\uff08\u30d1\u30d6\u30b3\u30e1\u52df\u96c6\u4e2d\uff09<a href=\"https:\/\/t.co\/t1vIKOO9jM\">https:\/\/t.co\/t1vIKOO9jM<\/a><\/p>&mdash; \u91d1\u878d\u5e81 (@fsa_JAPAN) <a href=\"https:\/\/twitter.com\/fsa_JAPAN\/status\/1178621170859442176?ref_src=twsrc%5Etfw\">September 30, 2019<\/a><\/blockquote> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p class=\"\">The Financial Services Agency (FSA) released an opinion on cryptocurrency ETFs in 2019, and currently, it is difficult to form and sell Bitcoin ETFs in Japan.<\/p>\n\n\n\n<p class=\"is-style-st-paragraph-bubble\">FSA&#8217;s Response to Public Comments (September 2019)<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"\">Regarding cryptocurrency ETFs, if the ETF itself is an investment trust, based on this supervisory guideline amendment, it will be difficult to form and sell it domestically. Additionally, forming and selling investment trusts that invest in overseas cryptocurrency ETFs is also considered to have the same nature as non-specified assets.<\/p>\n<cite>Source\uff1a<a href=\"https:\/\/www.fsa.go.jp\/news\/r1\/shouken\/20191227-1.pdf\" data-type=\"link\" data-id=\"https:\/\/www.fsa.go.jp\/news\/r1\/shouken\/20191227-1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">\u30b3\u30e1\u30f3\u30c8\u306e\u6982\u8981\u53ca\u3073\u30b3\u30e1\u30f3\u30c8\u306b\u5bfe\u3059\u308b\u91d1\u878d\u5e81\u306e\u8003\u3048\u65b9\uff5c\u91d1\u878d\u5e81<\/a><br><span class=\"komozi\">The English translation is by the author.<\/span><\/cite><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"\">For example, it is expected that financial products targeting cryptocurrencies will be formed in the future, but there are concerns that investment in cryptocurrencies may promote speculation, and the FSA believes that it should respond cautiously to forming and selling investment trusts that invest in such assets.<\/p>\n<cite>Source\uff1a<a href=\"https:\/\/www.fsa.go.jp\/news\/r1\/shouken\/20190930.html\" data-type=\"link\" data-id=\"https:\/\/www.fsa.go.jp\/news\/r1\/shouken\/20190930.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u300c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u696d\u8005\u7b49\u5411\u3051\u306e\u7dcf\u5408\u7684\u306a\u76e3\u7763\u6307\u91dd\u300d\u306e\u4e00\u90e8\u6539\u6b63\uff08\u6848\uff09\u306e\u516c\u8868\u306b\u3064\u3044\u3066\uff5c\u91d1\u878d\u5e81<\/a><br><span class=\"komozi\">The English translation is by the author.<\/span><\/cite><\/blockquote>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon6\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Some people thought they could buy Bitcoin ETFs with the new NISA, but it&#8217;s difficult at present\u2026<br>*As of January 16, 2024<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<p class=\"\">Furthermore, Tomohiko Kondo, President of SBI VC Trade and Head of the Financial Division of the JCBA, expressed the following view:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"\">The JCBA&#8217;s Financial Division has already begun organizing the feasibility, including legal regulations, of cryptocurrency spot ETFs domestically. There are various players involved in addressing the significant presence of Bitcoin ETFs, and we are organizing what possibilities can be considered and what legal and regulatory amendments are needed.<\/p>\n\n\n\n<p class=\"\">There are many issues to be sorted out regarding handling cryptocurrency ETFs in Japan. For instance, whether the Bitcoin ETFs approved overseas can be brought here or whether to form cryptocurrency ETFs domestically. Additionally, there are tax issues. ETFs are financial products and, for individuals, may be subject to separate taxation. On the other hand, transactions of spot cryptocurrencies are comprehensively taxed, and voices seeking consistency will naturally arise.<\/p>\n<cite>Source\uff1a<a href=\"https:\/\/www.coindeskjapan.com\/215568\/\" data-type=\"link\" data-id=\"https:\/\/www.coindeskjapan.com\/215568\/\" target=\"_blank\" rel=\"noreferrer noopener\">CoinDesk<\/a><br><span class=\"komozi\">The English translation is by the author.<\/span><\/cite><\/blockquote>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">It would be great if the current laws are revised and the day comes when Bitcoin ETFs can be bought in Japan.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">What is a Bitcoin ETF?<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-2.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3ETF\u3068\u306f\uff1f\" class=\"wp-image-1531\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-2.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-2-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-2-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"\">A Bitcoin ETF is an exchange-traded fund designed to track the price of Bitcoin. It allows investors to invest in the Bitcoin market without directly buying or storing Bitcoin.<\/p>\n\n\n\n<p class=\"\">Unlike Bitcoin, which is traded on cryptocurrency exchanges, Bitcoin ETFs are traded on stock exchanges.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Efforts for a Bitcoin spot ETF have been underway since 2013.<\/p>\n\n\n\n<p class=\"\">The Winklevoss twins applied for a Bitcoin spot ETF to the SEC, but it was rejected. Since then, numerous Bitcoin ETF applications have been denied.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">In the past, it wasn&#8217;t approved due to concerns about low trading volumes and price manipulation\u2026<\/p>\n\n\n\n<p class=\"\">The market has grown, and the management system has been improved, so Bitcoin ETFs have finally been approved.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">List of 11 Approved Bitcoin ETFs<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-3.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3ETF\u306e11\u9298\u67c4\u3010\u4e00\u89a7\u3011\" class=\"wp-image-1532\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-3.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-3-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-3-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon2\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I heard that 11 Bitcoin ETFs have been approved\u2026<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I&#8217;ll briefly introduce the 11 approved Bitcoin ETFs.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">What do Bitcoin ETF Tickers &#8220;BRRR&#8221; and &#8220;HODL&#8221; Mean?<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">Ticker<\/th><th class=\"has-text-align-center\" data-align=\"center\">Management Company<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">FBTC<\/td><td class=\"has-text-align-center\" data-align=\"center\">Fidelity<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">GBTC<\/td><td class=\"has-text-align-center\" data-align=\"center\">Grayscale<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">BTCO<\/td><td class=\"has-text-align-center\" data-align=\"center\">Invesco\uff06Galaxy<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">BTCW<\/td><td class=\"has-text-align-center\" data-align=\"center\">WisdomTree<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">BITB<\/td><td class=\"has-text-align-center\" data-align=\"center\">Bitwise<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">IBIT<\/td><td class=\"has-text-align-center\" data-align=\"center\">BlackRock<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">ARKB<\/td><td class=\"has-text-align-center\" data-align=\"center\">21Shares &amp; Ark Invest<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">EZBC<\/td><td class=\"has-text-align-center\" data-align=\"center\">Franklin<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">BRRR<\/td><td class=\"has-text-align-center\" data-align=\"center\">Valkyrie<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">DEFI<\/td><td class=\"has-text-align-center\" data-align=\"center\">Hashdex<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">HODL<\/td><td class=\"has-text-align-center\" data-align=\"center\">VanEck<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">As of January 15, 2024<\/figcaption><\/figure>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">There are many tickers that include &#8220;BTC&#8221; or the name of the management company.<\/p>\n\n\n\n<p class=\"\">What do Valkyrie&#8217;s &#8220;BRRR&#8221; and VanEck&#8217;s &#8220;HODL&#8221; mean?<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon8\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Both are memes (internet jokes) used in the Bitcoin community.<\/p>\n\n\n\n<p class=\"\">&#8220;BRRR&#8221; refers to the sound of printing money in large quantities, and &#8220;HODL&#8221; means to hold onto Bitcoin.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Eight Companies Including BlackRock to Conduct Custody on Coinbase<\/h3>\n\n\n\n<p class=\"\">For Bitcoin ETF custody (storing Bitcoin), eight companies, including BlackRock, have chosen Coinbase, a major U.S. exchange. The other three companies have chosen different custodians: VanEck selected Gemini, Hashdex chose BitGo, and Fidelity will perform self-custody.<\/p>\n\n\n\n<p class=\"\">*Custody refers to the storage of cryptocurrencies by the ETF management company on behalf of investors.<br>*Self-custody means managing and storing assets by oneself.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon2\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Many management companies have chosen Coinbase, but are there any concerns?<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">While Coinbase has a solid track record, some are concerned about the concentration of Bitcoin in a single custody service, considering the risk of large-scale hacking.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Impact of Bitcoin ETF on Prices<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-4.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3ETF\u304c\u4fa1\u683c\u306b\u4e0e\u3048\u305f\u5f71\u97ff\u3010\u30c1\u30e3\u30fc\u30c8\u3011\" class=\"wp-image-1533\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-4.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-4-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-4-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon2\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I heard that the approval of Bitcoin ETFs also affected Bitcoin prices\u2026<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">The prices of Bitcoin were indeed influenced during key events such as the listing of CME futures in 2017, the approval of Bitcoin futures ETFs in 2021, and the approval of Bitcoin spot ETFs in 2024.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Bitcoin Price Chart During the CME Bitcoin Futures Listing<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-5.jpg\" alt=\"CME\u306e\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u5148\u7269\u4e0a\u5834\u6642\u306e\u4fa1\u683c\u30c1\u30e3\u30fc\u30c8\" class=\"wp-image-1534\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-5.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-5-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-5-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"\">CME stands for the Chicago Mercantile Exchange, one of the world&#8217;s largest financial derivatives markets. Futures trading involves contracts to buy or sell assets at predetermined prices on future dates. When CME Bitcoin futures were listed in 2017, Bitcoin&#8217;s price skyrocketed, only to plummet significantly afterward.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon7\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">The anticipation that &#8220;Bitcoin might be accepted in traditional financial markets&#8221; led to more people buying Bitcoin, but the market also overheated significantly.<\/p>\n\n\n\n<p class=\"\">That year, the price rose from about 90,000 yen in January to over 2 million yen in December.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon6\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">The CME futures listing might have marked the peak, prompting early investors to start selling.<\/p>\n\n\n\n<p class=\"\">It reminds me of the investment adage, &#8220;Buy the rumor, sell the fact.&#8221;<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Bitcoin Price Chart During the Approval of Bitcoin Futures ETFs<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-6.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u5148\u7269ETF\u627f\u8a8d\u6642\u306e\u4fa1\u683c\u30c1\u30e3\u30fc\u30c8\" class=\"wp-image-1535\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-6.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-6-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-6-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"\">Bitcoin futures ETFs are investment trusts traded on stock exchanges, involving contracts to buy or sell Bitcoin at predetermined prices on future dates. About half a month after the approval of Bitcoin futures ETFs in 2021, Bitcoin hit an all-time high before the price started to decline.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">In 2021, there were various positive developments such as Coinbase&#8217;s NASDAQ listing and El Salvador&#8217;s adoption of Bitcoin as legal tender, contributing to Bitcoin&#8217;s price increase.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">The cryptocurrency market was overall very active around the time of the Bitcoin futures ETF approval.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Bitcoin Price Chart During the Approval of Bitcoin Spot ETFs<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-7.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u73fe\u7269ETF\u627f\u8a8d\u6642\u306e\u4fa1\u683c\u30c1\u30e3\u30fc\u30c8\" class=\"wp-image-1536\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-7.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-7-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-7-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"\">In 2023, anticipation for Bitcoin spot ETFs was high throughout the year, with the cryptocurrency community eagerly awaiting approval.<\/p>\n\n\n\n<p class=\"is-style-st-paragraph-bubble\">Events During the Bitcoin Spot ETF Approval<\/p>\n\n\n\n<div class=\"wp-block-st-blocks-my-box st-mybox\" style=\"background-color:#fff;border-color:#757575\"><div class=\"st-in-mybox\">\n<ul class=\"wp-block-list\">\n<li class=\"\"><strong>October 2023:<\/strong> A false report by CoinTelegraph about ETF approval led to a Bitcoin price surge.<br>\u2192 The belief that &#8220;the price might surge upon ETF approval&#8221; created a bullish trend.<\/li>\n\n\n\n<li class=\"\"><strong>January 10, 2024 (JST):<\/strong> The SEC&#8217;s Twitter account was hacked, falsely announcing &#8220;Bitcoin ETF approval,&#8221; causing a price spike followed by a drop.<\/li>\n\n\n\n<li class=\"\"><strong>January 11, 2024 (JST):<\/strong> Spot ETF was approved. Initially, there was no significant price movement, but prices briefly plummeted when trading began the following day.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon5\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-5.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">The SEC&#8217;s Twitter account was hacked!? That must have been quite an event\u2026<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Bitcoin prices are influenced by various factors, not just ETF events.<\/p>\n\n\n\n<p class=\"\">With the halving event coming in 2024, it&#8217;s important to keep an eye on future Bitcoin price movements.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">What Happens When Bitcoin ETFs Are Approved? Explaining the Pros and Cons<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-8.jpg\" alt=\"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3ETF\u304c\u627f\u8a8d\u3055\u308c\u305f\u3089\u3069\u3046\u306a\u308b\uff1f\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8\u3092\u89e3\u8aac\" class=\"wp-image-1537\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-8.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-8-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-8-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon2\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Bitcoin ETFs have finally been approved, but what changes once they are approved?<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I&#8217;ll introduce some of the pros and cons of the impact that Bitcoin ETFs can have.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Pros of Bitcoin ETFs<\/h3>\n\n\n\n<p class=\"\">Bitcoin ETFs can be traded through regular securities accounts, enabling many investors familiar with traditional securities markets to participate in the Bitcoin market. As the market size increases and more funds flow in, this could potentially affect the price of Bitcoin.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon8\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">ETFs are traded under strict regulations, which is why many investors participate in the market.<\/p>\n\n\n\n<p class=\"\">Institutional investors might also consider adding Bitcoin ETFs to their portfolios.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">For those who find storing Bitcoin difficult, Bitcoin ETFs might be an easier investment option.<\/p>\n\n\n\n<p class=\"\">The application of existing regulatory and tax systems is also significant.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Cons of Bitcoin ETFs<\/h3>\n\n\n\n<p class=\"\">While Bitcoin ETFs make it easier for investors to participate in the market, there is a risk that investors who do not fully understand the risks of Bitcoin investment may enter the market and be exposed to high volatility. Additionally, there are concerns about the concentration of Bitcoin in a single custodian service, as many fund managers have chosen Coinbase for custody services.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Moreover, just as there can be price discrepancies between gold and gold ETFs, there is a possibility that Bitcoin ETFs might also experience price discrepancies.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Fund managers handling Bitcoin ETFs are engaging in fee competition and promotions to expand their customer base.<\/p>\n\n\n\n<p class=\"\">It would be good if the risks of Bitcoin are well communicated along with its benefits.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Characteristics of Bitcoin Spot ETFs<\/h3>\n\n\n\n<p class=\"\">Bitcoin spot ETFs are likely to experience more significant price fluctuations than futures ETFs, and their prices may change rapidly. Generally, it is said that &#8220;the spot market matures before the futures market develops.&#8221; The main reasons Bitcoin futures ETFs were approved before spot ETFs are as follows:<\/p>\n\n\n\n<div class=\"wp-block-st-blocks-my-box st-mybox\" style=\"background-color:#fff;border-color:#757575\"><div class=\"st-in-mybox\">\n<ul class=\"wp-block-list\">\n<li class=\"\"><strong>Concerns About the Circulation of the Spot Market<\/strong><br>As seen in the FTX incident, illegal activities by key players like exchanges and brokers are prevalent. Additionally, the trading volume is not necessarily high enough.<\/li>\n\n\n\n<li class=\"\"><strong>No Need to Hold Physical Bitcoin<\/strong><br>Futures are settled in cash, meaning the fund does not need to hold physical Bitcoin, avoiding the issues related to the security and management of physical assets.<\/li>\n\n\n\n<li class=\"\"><strong>Lower Risk of Liquidity Shortage<\/strong><br>Futures trading does not require the actual asset, making the risk of liquidity shortage smaller compared to the spot market.<\/li>\n\n\n\n<li class=\"\"><strong>Lower Concerns Regarding Redemption<\/strong><br>In the event of an unforeseen incident like a market crash, futures traded through exchanges can more reliably meet redemption demands.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Futures ETFs were approved first, and spot ETFs were approved about two years later\u2026<\/p>\n\n\n\n<p class=\"\">But it doesn&#8217;t mean there was a significant change like &#8220;Bitcoin&#8217;s security and liquidity are now perfectly managed!&#8221;<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Some voices say, &#8220;Now that Bitcoin spot ETFs are approved, next will be spot ETFs for other cryptocurrencies!&#8221; However, there are various opinions among experts, and the outlook is uncertain.<\/p>\n\n\n\n<p class=\"\">First, it&#8217;s crucial to understand the differences between spot and futures characteristics and closely monitor the trends of Bitcoin spot ETFs.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Concerns About the Impact on Decentralization<\/h3>\n\n\n\n<p class=\"\">Within the Bitcoin community, which values decentralization and privacy, some express concerns about Bitcoin ETFs.<\/p>\n\n\n\n<p class=\"is-style-st-paragraph-bubble\">Concerns About Bitcoin ETFs<\/p>\n\n\n\n<div class=\"wp-block-st-blocks-my-box st-mybox\" style=\"background-color:#fff;border-color:#757575\"><div class=\"st-in-mybox\">\n<ul class=\"wp-block-list\">\n<li class=\"\"><strong>Do Not Promote Actual Bitcoin Ownership<\/strong><br>Bitcoin ETFs only track the price movement and do not involve holding actual Bitcoin in personal wallets.<\/li>\n\n\n\n<li class=\"\"><strong>Centralization Concerns<\/strong><br>ETFs are part of the traditional financial system, and the expansion of the ETF market is seen as contradictory to Bitcoin&#8217;s decentralization.<\/li>\n\n\n\n<li class=\"\"><strong>Different from the Original Purpose<\/strong><br>Bitcoin aims to build a decentralized and free financial system, and some believe that ETFs deviate from Bitcoin&#8217;s original purpose.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon5\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-5.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">With the approval of the Bitcoin ETF, &#8220;the price might go up!&#8221; but I also see what you mean about the concerns about centralization.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">It&#8217;s true that the approval of Bitcoin ETFs will make Bitcoin more widely known.<\/p>\n\n\n\n<p class=\"\">ETFs might spark more interest in Bitcoin among people.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q&amp;A About Bitcoin ETFs<\/h2>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon2\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I want to know more about Bitcoin ETFs.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I&#8217;ll explain Bitcoin ETFs in a Q&amp;A format.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Are the taxes for Bitcoin ETFs different from cryptocurrencies?<\/h3>\n\n\n\n<p class=\"\">In Japan, Bitcoin is considered a cryptocurrency, while Bitcoin ETFs are treated as investment trusts, and the tax treatment is different.<\/p>\n\n\n\n<div class=\"wp-block-st-blocks-my-box st-mybox\" style=\"background-color:#fff;border-color:#757575\"><div class=\"st-in-mybox\">\n<ul class=\"wp-block-list\">\n<li class=\"\"><strong>Cryptocurrency:<\/strong> Subject to comprehensive taxation. Income tax rates range from 5% to 45% depending on taxable income, with an additional 10% resident tax.<\/li>\n\n\n\n<li class=\"\"><strong>Investment Trusts:<\/strong> Subject to separate taxation. Income tax is a flat 15.315%, with an additional 5% resident tax.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon7\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">There are many calls for improvements to the tax system for cryptocurrencies.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon6\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I hope for future legal reforms.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Where can you buy Bitcoin ETFs?<\/h3>\n\n\n\n<p class=\"\">Currently, Bitcoin ETFs cannot be purchased in Japan. The Bitcoin spot ETF was approved by the U.S. SEC and has not been approved in Japan.<\/p>\n\n\n\n<p class=\"\">If Bitcoin ETFs become available in Japan in the future, they will be traded through securities companies.<\/p>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">SBI and Rakuten also operate exchanges where you can buy Bitcoin, so it will be interesting to see how they handle ETFs.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon1\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Let&#8217;s keep an eye on how Japan&#8217;s legal framework for Bitcoin ETFs will evolve.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-3.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">[Summary] Will Bitcoin ETFs Be Available in Japan?<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"960\" height=\"576\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-1.jpg\" alt=\"\u3010\u307e\u3068\u3081\u3011\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3ETF\u304c\u65e5\u672c\u3067\u8cb7\u3048\u308b\u65e5\u306f\u6765\u308b\u306e\u304b\" class=\"wp-image-1530\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-1.jpg 960w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-1-300x180.jpg 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2024\/01\/ETF-1-768x461.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n<\/div>\n\n\n<div class=\"wp-block-st-blocks-my-box st-mybox has-title\" style=\"background-color:#fff;border-color:#757575\"><p class=\"st-mybox-title\" style=\"color:#424242;font-weight:bold;text-shadow:#fff 3px 0px 0px, #fff 2.83487px .981584px 0px, #fff 2.35766px 1.85511px 0px, #fff 1.62091px 2.52441px 0px, #fff .705713px 2.91581px 0px, #fff -0.287171px 2.98622px 0px, #fff -1.24844px 2.72789px 0px, #fff -2.07227px 2.16926px 0px, #fff -2.66798px 1.37182px 0px, #fff -2.96998px .42336px 0px, #fff -2.94502px -0.571704px 0px, #fff -2.59586px -1.50383px 0px, #fff -1.96093px -2.27041px 0px, #fff -1.11013px -2.78704px 0px, #fff -0.137119px -2.99686px 0px, #fff .850987px -2.87677px 0px, #fff 1.74541px -2.43999px 0px, #fff 2.44769px -1.73459px 0px, #fff 2.88051px -0.838246px 0px;background:linear-gradient(0deg, #fff 0%, #fff 55%, rgba(0, 0, 0, 0) 55%, rgba(0, 0, 0, 0) 100%)\"><span class=\"st-mybox-title-text\">Key Points<\/span><\/p><div class=\"st-in-mybox\">\n<ul class=\"wp-block-list\">\n<li class=\"\">Bitcoin ETFs have been approved in the U.S., but they cannot be traded in Japan.<\/li>\n\n\n\n<li class=\"\">Bitcoin ETFs make it easier for many investors to participate in the Bitcoin market.<\/li>\n\n\n\n<li class=\"\">There are concerns about the impact of Bitcoin ETFs on Bitcoin&#8217;s decentralization.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon3\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-2.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">It&#8217;s disappointing that we can&#8217;t buy Bitcoin ETFs in Japan yet, but hopefully, legal regulations will be revised so we can buy them someday.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon8\">\r\n\t<div class=\"st-kaiwa-area2\">\r\n\t\t<div class=\"st-kaiwa-hukidashi2\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">I hope the approval of Bitcoin ETFs increases interest in Bitcoin.<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-face2\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/badger-left-1.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name2\">\u30d0\u30c3\u30b8\u30e3\u30fc\u541b<\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<div class=\"st-kaiwa-box clearfix wp-block-st-blocks-st-kaiwa kaiwaicon4\">\r\n\t<div class=\"st-kaiwa-face\"><img decoding=\"async\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/11\/fiat-right-4.png\" width=\"60px\">\r\n\t\t<div class=\"st-kaiwa-face-name\">\u30d5\u30a3\u30a2\u30c3\u30c8<\/div>\r\n\t<\/div>\r\n\t<div class=\"st-kaiwa-area\">\r\n\t\t<div class=\"st-kaiwa-hukidashi\"><div class=\"st-kaiwa-hukidashi-content\">\n<p class=\"\">Bitcoin seems complicated, but now I want to know more about it.<\/p>\n\n\n\n<p class=\"\">Let&#8217;s learn more about Bitcoin!<\/p>\n<\/div><\/div>\r\n\t<\/div>\r\n<\/div>\n\n\n\n<p class=\"is-style-st-paragraph-link\">Recommended Articles\uff1a<a href=\"https:\/\/bitcoin-zukan.com\/en\/learn\/what-is-bitcoin\/\" data-type=\"link\" data-id=\"https:\/\/bitcoin-zukan.com\/en\/learn\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noreferrer noopener\">What is Bitcoin?<\/a><\/p>\n\n\n\n<div class=\"wp-block-st-blocks-my-box st-mybox\" style=\"background-color:#fff;border-color:#757575\"><div class=\"st-in-mybox\">\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" width=\"600\" height=\"600\" src=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/10\/Twitter\u30a2\u30a4\u30b3\u30f3sizedown.png\" alt=\"Sigeru Minami\" class=\"wp-image-340\" style=\"aspect-ratio:1;width:100px;height:auto\" srcset=\"https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/10\/Twitter\u30a2\u30a4\u30b3\u30f3sizedown.png 600w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/10\/Twitter\u30a2\u30a4\u30b3\u30f3sizedown-300x300.png 300w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/10\/Twitter\u30a2\u30a4\u30b3\u30f3sizedown-150x150.png 150w, https:\/\/bitcoin-zukan.com\/wp-content\/uploads\/2023\/10\/Twitter\u30a2\u30a4\u30b3\u30f3sizedown-100x100.png 100w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p class=\"is-style-st-paragraph-marumozi\"><strong><strong>Writer\uff1aSigeru Minami<\/strong><\/strong><\/p>\n\n\n\n<p class=\"\">Creator of &#8220;Bitcoin-zukan.com.&#8221;<br>Active as a handmade craftsman of Bitcoin goods.<\/p>\n\n\n\n<p class=\"\"><br><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"\"><\/p>\n<\/div><\/div>\n\n\n\n<p class=\"\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will Bitcoin ETFs be available in Japan? We introduce the impact of the Bitcoin ETF approved in 2024 on the market and the price charts when CME futures were listed and futures ETFs were approved in the past.<\/p>\n","protected":false},"author":3,"featured_media":1571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_locale":"en_US","_original_post":"https:\/\/bitcoin-zukan.com\/?p=1524","footnotes":""},"categories":[12],"tags":[],"class_list":["post-2838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-en","en-US"],"_links":{"self":[{"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/posts\/2838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/comments?post=2838"}],"version-history":[{"count":0,"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/posts\/2838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/media\/1571"}],"wp:attachment":[{"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/media?parent=2838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/categories?post=2838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoin-zukan.com\/wp-json\/wp\/v2\/tags?post=2838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}