Six of Japan's largest asset managers, overseeing $2.5 trillion in assets, are exploring the launch of cryptocurrency funds. The firms, including Mitsubishi UFJ Asset Management and Nomura Asset Management, aim to offer these crypto trusts to both retail and institutional investors. This move aligns with the Financial Services Agency's (FSA) potential reclassification of major cryptocurrencies as financial products, which could boost crypto adoption in Japan. However, the initiative's success may hinge on tax reforms, as current regulations impose high taxes on crypto profits.