RetireJapan

Are there any brokers in Japan that allow buying of Bitcoin ETFs? On Interactive Brokers, they seem to be off limit to Japanese residents.
I don't want to buy Bitcoin itself because tax on any profits is too high.

Personally I'd be surprised if profits from crypto ETFs are taxed differently in Japan to spot purchases. Can anyone confirm this?

nagasakirams wrote: ↑Thu Feb 22, 2024 8:27 am Are there any brokers in Japan that allow buying of Bitcoin ETFs? On Interactive Brokers, they seem to be off limit to Japanese residents.
I don't want to buy Bitcoin itself because tax on any profits is too high.

No. None.

The FSA has also not hinted to allowing any listings.

northSaver wrote: ↑Thu Feb 22, 2024 12:00 pm Personally I'd be surprised if profits from crypto ETFs are taxed differently in Japan to spot purchases. Can anyone confirm this?

ETFs are usually taxed at the same rate as stocks. Crypto is taxed as income.

Tsumitate Wrestler wrote: ↑Thu Feb 22, 2024 2:33 pm

nagasakirams wrote: ↑Thu Feb 22, 2024 8:27 am Are there any brokers in Japan that allow buying of Bitcoin ETFs? On Interactive Brokers, they seem to be off limit to Japanese residents.
I don't want to buy Bitcoin itself because tax on any profits is too high.

No. None.

The FSA has also not hinted to allowing any listings.

Thanks. Any idea about why?

nagasakirams wrote: ↑Thu Feb 22, 2024 11:30 pm ETFs are usually taxed at the same rate as stocks. Crypto is taxed as income.

If this is the case then that probably explains why Japanese residents can't buy the ETF versions. Wouldn't it be strange for the same underlying investment to be taxed in different ways depending on how you bought it?

Edit: Maybe not so strange. I wonder what are the tax implications of owning physical gold vs ETF gold?

nagasakirams wrote: ↑Thu Feb 22, 2024 11:42 pm

Tsumitate Wrestler wrote: ↑Thu Feb 22, 2024 2:33 pm

nagasakirams wrote: ↑Thu Feb 22, 2024 8:27 am Are there any brokers in Japan that allow buying of Bitcoin ETFs? On Interactive Brokers, they seem to be off limit to Japanese residents.
I don't want to buy Bitcoin itself because tax on any profits is too high.

No. None.

The FSA has also not hinted to allowing any listings.

Thanks. Any idea about why?

The FSA is conservative and is looking to protect investors. The SEC was looking to do the same but was forced by the courts to allow an ETF.

Tsumitate Wrestler wrote: ↑Fri Feb 23, 2024 9:38 am

nagasakirams wrote: ↑Thu Feb 22, 2024 11:42 pm

Tsumitate Wrestler wrote: ↑Thu Feb 22, 2024 2:33 pm

No. None.

The FSA has also not hinted to allowing any listings.

Thanks. Any idea about why?

The FSA is conservative and is looking to protect investors. The SEC was looking to do the same but was forced by the courts to allow an ETF.

I wonder why a bitcoin ETF is considered so dangerous we need to be protected. We can buy the real thing on Bitcoin exchanges.

nagasakirams wrote: ↑Mon Feb 26, 2024 8:37 am I wonder why a bitcoin ETF is considered so dangerous we need to be protected. We can buy the real thing on Bitcoin exchanges.

Maybe the greater accessibility makes it "riskier" to a greater number of people?

Buying bitcoin from an exchange is about the same pain-in-ass level as starting a NISA account (which is quite painful).

If people already have a brokerage account and the ETF is available to purchase, I am pretty sure a lot of people would put their money into it.

nagasakirams wrote: ↑Mon Feb 26, 2024 8:37 am

Tsumitate Wrestler wrote: ↑Fri Feb 23, 2024 9:38 am

nagasakirams wrote: ↑Thu Feb 22, 2024 11:42 pm

Thanks. Any idea about why?

The FSA is conservative and is looking to protect investors. The SEC was looking to do the same but was forced by the courts to allow an ETF.

I wonder why a bitcoin ETF is considered so dangerous we need to be protected. We can buy the real thing on Bitcoin exchanges.

I would rather own the real thing vs ETF, but the etf is going to allowed instutional money to come into crypto sphere and pump bitcoin to mid six figure prices in years to come