The claim is strongly supported by a Nikkei Asia primary report ('Japan's SBI, Rakuten to sell crypto investment trusts developed in-house') and independently corroborated by CoinTelegraph, Crypto Briefing, and Crypto.news, all published on May 17, 2026. All sources consistently confirm that SBI Securities and Rakuten Securities are developing in-house crypto investment trust products targeting Japanese retail investors, with Nomura and other major brokerages also preparing to enter the space. The counterparty risk concern tied to indirect exposure structures is explicitly acknowledged in the Crypto Briefing article. The regulatory context (Japan FSA revising the Investment Trust Act, crypto reclassified as financial instruments) is consistent across sources. No conflicting evidence was found.