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Japanese cryptocurrency exchange BitFlyer Holdings has now closed the acquisition of FTX Japan, readying it to launch the first crypto-linked exchange-traded funds in Japan. This development has improved BitFlyer services; especially in reliable crypto custody services for institutions. 
Expansion into Crypto Custody 
Yuzo Kano, CEO of BitFlyer Holdings, emphasized the strategic importance of secure storage solutions for digital assets. He stated, “A company is needed that has the security technology to safely store the physical BTC that will serve as the ETF’s backing asset. Through our custody business, we aim to become a public service that serves as an industry infrastructure..” 
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 米国ではビットコインETF上場をきっかけに、機関投資家からの資金流入が加速しています。 日本でもETFが上場する日が来ると信じています そして、ETFの裏付け資産となる現物BTCを安全に保管できるセキュリティ技術を保有した会社が必要です。… <a href="https://t.co/0d1FZbNYwW" target="_blank">https://t.co/0d1FZbNYwW</a>— 加納裕三@bitFlyer (@YuzoKano) <a href="https://twitter.com/YuzoKano/status/1816703511079584041?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 26, 2024</a>
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The acquisition by BitFlyer offers a revitalized pathway forward for FTX Japan, which faced numerous challenges after its parent company filed for bankruptcy in the last quarter of 2022. This move brings the subsidiary under BitFlyer’s comprehensive management. 
Pathway to Japanese Crypto ETFs 
The anticipation surrounding the launch of Japan’s first crypto ETFs has been building, particularly with the growing interest from institutional investors globally. Kano added, “Observing the U.S. market, where the Bitcoin ETF catalyzed substantial institutional inflow, we are optimistic about a similar trend emerging in Japan.” 
Moreover, this development follows recent movements in the U.S. market, where the introduction of spot Ether ETFs marked another milestone for cryptocurrency integration into mainstream financial products. 
Alliances and Future Prospects 
In a related development, asset management <a href="https://www.cryptotimes.io/2024/07/26/franklin-templeton-sbi-holdings-to-launch-crypto-etf-firm-in-japan/" target="_blank" rel="noreferrer noopener">Franklin Templeton</a> has teamed up with SBI Holdings. They plan to establish a crypto ETF management venture, which could potentially launch Japan’s first spot crypto ETF. This collaboration underscores a step in diversifying investment solutions in the region, aligning with evolving digital asset regulations. 
These strategic moves by BitFlyer and its partners are setting the foundation for a more integrated and secure cryptocurrency investment environment in Japan. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/11/ftx-counters-264-million-claim-from-jump-trading-in-court/" target="_blank" rel="noreferrer noopener">FTX Counters $264 Million Claim from Jump Trading in Court</a> 
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BitFlyer and FTX Japan Merge to Boost Crypto ETF Offerings

The Crypto Times

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