iShares MSCI Japan ETF 

EWJ Price

What is the iShares MSCI Japan ETF (EWJ)?

The iShares MSCI Japan ETF (EWJ) is a US-listed exchange-traded fund that tracks the MSCI Japan Index — a market-cap-weighted basket of large- and mid-cap Japanese stocks. Issuer BlackRock's iShares unit launched EWJ on NYSE Arca on March 12, 1996, making it the first Japan-focused ETF in the United States. Since March 2026, major crypto venues have also offered USDT-margined perpetual contracts on the EWJ price — the trading surface this page covers.

Who manages the iShares MSCI Japan ETF?

BlackRock's iShares unit manages EWJ. BlackRock (NYSE: BLK) is the world's largest asset manager, and iShares launched the fund on March 12, 1996. As a US 1940-Act fund, EWJ is an SEC-regulated security rather than a crypto token. Fund assets exceed $10 billion. There was no ICO, token sale, or venture funding — capitalization comes from continuous share creation and redemption by authorized participants against a basket of Japanese stocks.

What does the iShares MSCI Japan ETF invest in?

EWJ holds roughly 167 Japanese securities tracking the MSCI Japan Index. Largest positions per issuer data: Mitsubishi UFJ Financial Group (4.6–4.8% of assets), Toyota Motor (3.4–3.5%), Sumitomo Mitsui Financial Group, Tokyo Electron, Hitachi, and Sony. The top 10 holdings account for roughly 30% of fund assets, so EWJ's performance tracks Japan's largest financial and industrial names. The fund is unhedged, meaning returns also carry Japanese yen currency exposure.

How much is the EWJ expense ratio, and does it pay dividends?

EWJ's expense ratio is 0.49% per year. The fund distributes dividends typically twice a year, around June and December, and the issuer's reported 30-day SEC yield runs near 1.1%. Both figures come from iShares' official product materials; the yield moves with market conditions, so the issuer's product page carries the current figure.

Can you trade EWJ on crypto exchanges?

Yes — but only as derivatives. Per DropsTab data, tracked EWJ crypto markets are exclusively perpetual futures on venues including Binance Futures, Hyperliquid, OKX, Bybit, KuCoin Futures, Gate.io, MEXC, Bitunix, and BTSE. No spot listing and no on-chain token exists. The ETF itself trades spot on NYSE Arca during TradFi market hours, outside crypto venues, so traders cannot take delivery of fund shares through these contracts.

How does an EWJ perpetual future work?

An EWJ perpetual future is a USDT-margined contract whose price references the ETF's market price, with no expiry and no delivery of actual fund shares. Binance launched its EWJUSDT contract on March 19, 2026, with up to 10x leverage, a minimum trade size of 0.01 EWJ, and funding-rate caps at ±2.00%. A periodic funding rate keeps the contract price anchored to the underlying ETF price.

Does EWJ have a token supply or smart contract?

No. EWJ is a traditional ETF, so it has no fixed token supply, no emission schedule, and no on-chain contract. Fund shares are created and redeemed in blocks by authorized participants against baskets of underlying Japanese stocks, which keeps the share price tracking the MSCI Japan Index net of the 0.49% fee. Any "supply" figures elsewhere refer to fund shares outstanding — a fund-accounting metric, not a crypto cap.

Is EWJ the same asset as Ondo's tokenized EWJ or the iShares MSCI Japan UCITS ETF?

No — these are distinct instruments. Ondo's tokenized EWJ (EWJON) and xStock-style tokenized equities are on-chain wrappers with their own custody. The iShares MSCI Japan UCITS ETF is a separate European fund with a 0.12% TER. The iShares MSCI Japan Value ETF trades under the ticker EWJV. The contracts tracked on this page are perpetual futures referencing the New York-listed ETF — they have no wrapper issuer.