Shiba Inu Gains Ground in Japan Amid Crypto ETF Breakthrough

Shiba Inu (SHIB) is gaining traction in Japan as the country's National Diet reclassified cryptocurrencies as financial instruments. This shift establishes a legal framework for separate taxation of crypto assets and future exchange-traded funds (ETFs). The reclassification opens a door for a potential crypto ETF listing on the Tokyo Stock Exchange, which could happen around 2027.

According to Mazrael, a longtime Shiba Inu community member, this is the reclassification an ETF needs. Japan's Financial Services Agency (FSA) rulemaking still has to happen before any listings can occur, with first listings likely for 2027 at the earliest. Bitcoin will likely go first, but Shiba Inu stands a chance given its inclusion on the Green List.

The Green List includes SHIB along with BTC and ETH, and gives it several advantages over other cryptocurrencies. It has already been listed by Mercari, Japan's largest marketplace with 23 million users. This listing drops the tax rate for SHIB holders from up to 55% to a flat 20%. Eligibility remains the hard part, but Mazrael notes that eligibility first, ETF later.