At the end of November, SBI will launch Japan’s first crypto fund for long-term investors


SBI Group, a Japanese financial conglomerate, has announced that it would establish its first cryptocurrency fund in Japan by the end of November this year to give a more varied portfolio to Japanese investors.

According to a Bloomberg article published on Thursday, the fund will provide cryptocurrencies such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

Tomoya Asakura, SBI Director and Senior Management Executive, said the fund might expand to hundreds of millions of dollars in the future, with investors able to contribute between 1 million and 3 million yen ($9,093-27,279 USD).

In an interview, the chairman of Morningstar Japan’s KK-SBI subsidiary stated that the firm would base the establishment of the second cryptocurrency fund on the success of the first. SBI Group will swiftly create a second cryptocurrency fund if everything goes well. He stated the following:

“I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios.”

The SBI company took four years to create this bitcoin fund due to tight rules against hackers and national legislation. First, change the original investment technique of selling cryptocurrencies through investment trusts, which is presently prohibited by the regulatory agency’s financial services division.

As a result, the SBI group chose to use an “anonymous partnership” technique.

Asakura stated that he would work hard to introduce cryptocurrencies to the Japanese public and the Financial Services Agency (FSA), the regulator, to create a more flexible and balanced investment portfolio that differs from traditional investment portfolios, thereby dispelling the popular perception that cryptocurrencies are highly volatile and speculative.

Asakura went on to say that if people experience it for themselves, they’ll realize that cryptocurrencies aren’t meant to be used for speculating.


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