Bybit has added a Japanese high-dividend equity strategy to RWA Earn, extending a service that began with tokenized bond funds into a new investment category. The exchange announced JPE on Nov. 9 and described it as the platform’s first equity product.
Bybit describes a two-token structure: JPE holds JX, which represents a beneficial interest in a share of the open-ended SBI Japan High Dividend Equity Fund (Growth Type), managed by SBI Asset Management Co., Ltd. DigiFT issues JX, while Plume provides the JPE wrapper distributed through Bybit. SBI Global Asset Management said DigiFT brought a private fund built around its existing mother fund onto a public blockchain on July 14.
Subscriptions start at 5,000 USD Coin (USDC). Bybit lists subscription and redemption fees at 0% and says it covers on-chain gas costs. The underlying fund’s management fee is included in its net asset value (NAV). Redemptions generally settle on T+5 under the product terms, excluding nontrading days in Japan, Singapore and the United States.
Investors receive no direct dividend payout. Distributions stay in the fund, while gains or losses show up in its NAV. Bybit says JPE is not principal-protected and lists Japanese equity, liquidity, counterparty, regulatory and currency risks. Its notice says the yen exposure is unhedged, so a weaker yen may reduce dollar-denominated returns.
Users must complete Standard Identity Verification or Business Verification to access JPE, according to Bybit. The exchange excludes institutional accounts and market makers. JPE is also unavailable in the CIS countries, Vietnam and Georgia, as well as other regions restricted for RWA Earn. DigiFT’s July announcement described JX as available exclusively to eligible accredited or institutional investors under Singapore law; Bybit sets separate conditions for JPE. Bybit launched RWA Earn in June with tokenized bond funds managed by PIMCO and China Merchants Bank International.
