Japan's Spot BTC ETFs Could Hit $18B in Two Years: xWin Finance

Japan's Financial Services Agency (FSA) is expected to approve Spot Bitcoin ETFs as early as 2028, according to a report from xWin Finance. The firm estimates that these products could attract $18.4 billion in two years, representing only about 0.13% of Japan's total household financial assets.

This estimate is based on the assumption that demand will come from existing crypto investors, new retail investors through securities accounts, and institutional players such as corporations and financial firms. The report notes that this trend has been observed in the US, where Spot BTC ETFs have seen a cumulative flow of about $56 billion since their debut in early 2024.

If Japan's products hit the projected target, it would mean a third of the US Spot BTC ETF demand. This could also impact Bitcoin's price, as the collective demand from both countries could influence its value.