Bitcoin News
Japan’s shifting treasury strategy after the GPIF Bitcoin move
The Government Pension Investment Fund (GPIF) changed the Japanese treasury landscape in August with a $4.7 billion Bitcoin allocation. This move follows the fund’s research into illiquid alternative assets like gold, forests, and farmland. The GPIF seeks basic knowledge about the assets targeted for information provision. The fund manages more than $1.5 trillion in assets for 67 million citizens. Currently, 97% of these holdings consist of domestic and foreign bonds and stocks. The GPIF wants to understand how overseas pension funds incorporate these assets into their portfolios.
The move shifts institutional sentiment.
The National Business Corporate Pension Fund in Okayama manages $130 million for 1,200 small and medium-sized firms. The fund serves industries including machinery and metal makers. It plans to allocate 1% of its assets to cryptocurrency during the 2026 fiscal year. This allocation equals roughly 213 million yen. The fund avoids direct management.
It uses a passive product from a global hedge fund.
This approach reduces operational complexity and custody risks for the fund. Aiyu Kiguchi, the executive director of investment, reached this decision after six years of study. He wants to hedge against the US dollar losing its global reserve status. The fund plans to reduce its yen holdings from 80% to 70% and uses a passive, multi-token product from a major hedge fund to gain exposure to a basket of cryptocurrencies. The yen trades near 161 per dollar. IMF data shows the dollar’s share of global reserves fell from 71% in 2001 to 57%. You should watch these small funds.
The fund manages $130 million.
| Entity | Asset Value or Detail |
|---|---|
| GPIF Total Assets | Over $1.5 trillion |
| Okayama Fund Assets | $130 million |
| Okayama Crypto Allocation | 1% ($1.3 million) |
| Metaplanet Acquisition | 2.1 billion yen |
The House of Representatives passed legislation to bring crypto assets under the Financial Instruments and Exchange Act. This law helps align digital assets with conventional financial products. If the legislation advances through the House of Councillors, it could create a path for crypto exchange-traded funds in Japan. This regulatory change might also prompt a shift in crypto taxation, such as a 20% flat tax on digital-asset gains instead of the current maximum rate of 55%. Metaplanet, the largest listed Bitcoin holder in Japan, agreed to acquire Siiibo Securities for 2.1 billion yen. The company intends to use this acquisition to support the development and distribution of Bitcoin-linked yield products through a newly formed securities arm. SBI Shinsei Bank also tests a rewards program using Bitcoin, Ether, and XRP. The bank plans a permanent launch this autumn.
Will the regulatory framework stabilize the market?
