Japans Bitbank prepares for Tokyo Stock Exchange listing as institutional interest in crypto grows

Japanese crypto exchange Bitbank might potentially be listed on the Tokyo Stock Exchange. The move comes as big-money investors in Japan are increasingly looking at crypto to diversify their portfolios.　　Bitbank has been in operation since 2014 and has the green light from Japans financial watchdog. In 2021, the crypto exchange partnered up with Mixi, Inc. following a funding round that raised 7.5 billion JPY. Now, Bitbank, as an equity method affiliate of Mixi, awaits listing approval from Japanese regulators.　　Japanese crypto exchange could go public if shareholders agree　　As of June 2024, Bitbank has 3 main shareholders. Noriyuki Hirosue holds about 31%, Mixi‘s got close to 27%, and Ceres Co., Ltd. is sitting at 23%. When and where they’ll list Bitbank is still reportedly uncertain, and there‘s always a chance they might pull the plug if things don’t go as planned.　　Meanwhile, Bitbank‘s timing couldn’t be better. A recent Nomura Securities survey, previously cited by Cryptopolitan, showed that over half of Japan‘s institutional investors are planning to gain exposure to crypto within the next three years. They’re looking at crypto as a hedge against inflation. Meanwhile, if Japan rolls out a crypto ETF, the broader Asian market could further benefit.　　Public listing accompanied by