SBI Holdings Will Launch Japan’s First Cryptocurrency Fund

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Japanese financial conglomerate SBI Holdings will launch the country’s first crypto fund by the end of November, Bloomberg has learned.

According to one of the top managers of the holding, Tomoya Asakura, the fund will invest in Bitcoin, Ether, XRP, Bitcoin Cash, Litecoin and probably in other virtual assets. He also said its assets could reach “hundreds of millions of dollars.”

The minimum investment amount will be 1-3 million yen (about $9,088- $27,264).

The fund is targeted at people who are aware of the risks associated with cryptocurrencies, including volatility. Asakura added:

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

The company plans to create a second fund should the first one succeed.