United

<ul>
 <li>BitFlyer Holdings has acquired 100% of <a href="https://thenewscrypto.com/?s=FTX" target="_blank" rel="noopener noreferrer nofollow">FTX</a> Japan’s outstanding shares.</li>
 <li>BitFlyer CEO Yuzo Kano believes the launch of Japan’s first crypto ETFs is only a matter of time.</li>
</ul>
<p>In a move for the Japanese cryptocurrency market, BitFlyer Holdings has completed the acquisition of 100% of FTX Japan’s outstanding shares, effectively making it a wholly owned subsidiary.</p>
<p>This strategic acquisition paves the way for BitFlyer to explore new avenues, including the potential launch of crypto-based exchange-traded funds (<a href="https://thenewscrypto.com/?s=etfs" target="_blank" rel="noopener noreferrer nofollow">ETFs</a>) and the provision of crypto custody solutions for institutional investors.</p>
<p>Yuzo Kano, CEO of BitFlyer Holdings, shared the company’s ambitious plans in a July 26 post on X (formerly Twitter), emphasizing the need for a company with robust security technology to safely store the physical Bitcoin (BTC) that will serve as the backing asset for the ETFs.</p>
<p>Through its custody business, BitFlyer aims to establish itself as an industry infrastructure, serving as a public service for the crypto ecosystem.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="ja" dir="ltr">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。<br><br>日本でもETFが上場する日が来ると信じています<br><br>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" rel="noopener noreferrer nofollow">https://t.co/0d1FZbNYwW</a></p>— 加納裕三@bitFlyer (@YuzoKano) <a href="https://twitter.com/YuzoKano/status/1816703511079584041?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-ftx-japan-s-tumultuous-past"><strong>FTX Japan’s Tumultuous Past</strong></h2>
<p>FTX Japan was previously a part of the now-defunct FTX exchange, which was once the world’s second-largest crypto exchange by trading volume.</p>
<p>However, the exchange collapsed in November 2022, resulting in a staggering $8.9 billion in lost user funds. BitFlyer’s acquisition of FTX Japan marks a new chapter for the subsidiary, with the potential to restore investor confidence and drive innovation in the Japanese crypto market.</p>
<p>BitFlyer CEO Yuzo Kano believes that the acquisition of FTX Japan could bring the crypto industry one step closer to the launch of the first crypto ETFs in Japanese markets.</p>
<p>Kano asserts that the launch of Japan’s first crypto ETFs is merely a matter of time, drawing parallels to the United States, where the inflow of funds from institutional investors has accelerated since the listing of Bitcoin ETFs.</p>
<p>Kano’s optimism is well-founded, as ETFs have the potential to significantly contribute to the price appreciation of the underlying crypto assets.</p>
<p>For instance, by February 15, Bitcoin ETFs had accounted for approximately 75% of new investment in the world’s largest cryptocurrency, coinciding with its rise above the $50,000 mark.</p>

BitFlyer Acquires FTX Japan, Sets Sights on Launching Crypto ETFs

Table of Contents

TheNewsCrypto

Other articles published on Jul 26, 2024

Lido DAO Price At Critical Juncture: Can LDO Secure $1.50 Mark

Chainlink Join Hands With Wenia to Boost Transparency of Colombian Peso-Backed Stablecoin

Shiba Inu Community Receives Alerts On Phishing Scams

Kwenta and Perennial Kickstart Arbitrum Expansion with 1.9M ARB (26 Jul)

Senator Warren Raises Alarm Over Foreign-Owned Crypto Mining Operations In The US

Semler Scientific To Acquire More Bitcoin (BTC) With Stock Sales

Join our free newsletter for daily crypto updates!