Japan’s Financial Services Agency (FSA) has denied that it is considering allowing Bitcoin (BTC) exchange-traded funds (ETFs).
Last week, several sources including Bloomberg reported that Japan is exploring the possibility of approving Bitcoin ETFs as an alternative to Bitcoin futures.
The FSA has now denied its interest in ETFs, for the time being, suggests the news reported at Bloomberg may have been fed by someone with an interest in reviving interest in crypto trading in Japan.
A spokesperson for the agency clarified on Friday:
There is no such fact that we are considering approving ETFs which track crypto-assets at present … we are not currently considering approving them.
The FSA also confirmed its position on cryptocurrency derivatives. Regarding “the listing of bitcoin futures on the financial instruments market,” the regulator said, “We are not considering that at present.”
The reports have led to increasing anticipation toward the approval of the VanEck Bitcoin ETF filing that is set to be decided by the U.S. Securities and Exchange Commission (SEC) by the end of February, as the emergence of strictly regulated investment vehicles in a major market like Japan would decrease the risk of price manipulation.