In deciding whether to approve cryptocurrency-pegged exchange-traded funds (ETFs), the Financial Services Agency (FSA) in Japan exhibits a cautious attitude. Head of the agency, Hideki Ito, stated during an interview that while the institution supports technological advancements, many perceive digital assets as incapable of reliably and sustainably generating wealth for the Japanese populace in the long term. Furthermore, he highlighted that other countries have adopted more conservative stances towards retail investors' investments in cryptocurrencies. Despite this, Ito did not entirely rule out the possibility of cryptocurrency ETFs, emphasizing the need for deep consideration regarding whether such products should be encouraged for public investment.