According to ChainCatcher and CoinPost, Japan's National Corporate Pension Fund has announced plans to begin investing in cryptocurrencies during fiscal year 2026. The allocation will be approximately 1% of the fund's total operating assets, which stand at roughly ¥21.3 billion. This marks the first time a major Japanese pension fund will enter the crypto space.
Asset Allocation Shifts and Investment Details
In the fiscal year 2025, the fund's asset allocation was: 80% Japanese yen, 15% U.S. dollar, and 5% other currencies. For fiscal year 2026, the yen allocation will decrease to 70%, with a new 10% allocation to developed market currencies. The remaining 5% will be composed of emerging market currencies, gold, and cryptocurrencies. Crypto assets will serve as a new component within this diversified mix.
Ayu Kiguchi, the fund's executive director, explained that the primary goal is to diversify currency risk. Given the perceived weakening of the dollar's role as a global benchmark currency, the fund decided against increasing dollar exposure. Instead, it will use Bitcoin and other crypto assets as a hedge against currency depreciation, citing Bitcoin's low correlation with the U.S. dollar index as a key advantage.
Six-Year Research and Market Maturity
Kiguchi noted that the fund initiated research approximately six years ago and concluded that the crypto market has become sufficiently mature. The growing institutional investor base, improved liquidity, enhanced infrastructure, and clearer regulatory frameworks have made it viable for conservative institutions like pension funds to participate. Looking ahead, the fund will continue to explore ways to expand crypto investments, including potential funds that engage in arbitrage trading across multiple cryptocurrencies.