Shiba Inu gains Japan exchange foothold, but ETF remains speculation

Japan’s parliament passed legislation on July 15, formally bringing crypto assets under the Financial Instruments and Exchange Act. Promulgated as Law No. 64 on July 23, the framework aligns digital assets with traditional financial product oversight. While this reclassification theoretically provides a legal foundation for regulated funds, it does not grant automatic eligibility for an ETF. Establishing such a vehicle requires an asset manager, a formal listing process, and explicit clearance from the Financial Services Agency—none of which currently exist for SHIB.

Retail access has improved through other channels. In June, the e-commerce giant Mercari integrated SHIB trading via Coincheck, significantly expanding the token’s visibility among its four million account holders. Furthermore, SHIB’s inclusion on the JVCEA Green List allows member exchanges to streamline their internal review processes. As of September 1, nine member companies support the asset, positioning it alongside major tokens like Bitcoin and Ether. However, market analysts emphasize that this designation is a measure of liquidity and compliance rather than an endorsement of the asset's suitability for an investment fund. With tax reforms and specific regulatory implementation rules still pending, any timeline for a Japanese crypto ETF remains speculative.