Japans Bitbank prepares for Tokyo Stock Exchange listing as institutional interest in crypto grows

Japanese crypto exchange Bitbank might potentially be listed on the Tokyo Stock Exchange. The move comes as big-money investors in Japan are increasingly looking at crypto to diversify their portfolios.

Bitbank has been in operation since 2014 and has the green light from Japans financial watchdog. In 2021, the crypto exchange partnered up with Mixi, Inc. following a funding round that raised 7.5 billion JPY. Now, Bitbank, as an equity method affiliate of Mixi, awaits listing approval from Japanese regulators.

Japanese crypto exchange could go public if shareholders agree

As of June 2024, Bitbank has 3 main shareholders. Noriyuki Hirosue holds about 31%, Mixi‘s got close to 27%, and Ceres Co., Ltd. is sitting at 23%. When and where they’ll list Bitbank is still reportedly uncertain, and there‘s always a chance they might pull the plug if things don’t go as planned.

Meanwhile, Bitbank‘s timing couldn’t be better. A recent Nomura Securities survey, previously cited by Cryptopolitan, showed that over half of Japan‘s institutional investors are planning to gain exposure to crypto within the next three years. They’re looking at crypto as a hedge against inflation. Meanwhile, if Japan rolls out a crypto ETF, the broader Asian market could further benefit.

Public listing accompanied by crypto incentives

The Japanese government is also trying to incentivize innovation. Earlier in 2024, the cabinet promoted the creation of new businesses and investment through a bill. The bill included large-scale, long-term tax measures for investment and production in key sectors, support for mid-sized enterprises and startups, and measures to enhance Japans competitiveness in research and development.

Notably, the bill added a partial amendment to add crypto assets to the list of assets that can be acquired and held by investment limited partnerships (LPS).

Therefore, as Bitbank gets ready for its potential stock market debut, things are looking up with Japans big investors warming up to crypto and the government offering incentives to innovative sectors.