SBI Group launches crypto asset fund for Japanese investors


SBI Group, Tokyo’s largest financial services company, will now allow general Japanese investors to purchase cryptocurrencies through its newly launched “crypto asset fund.” The fund consists of seven cryptocurrencies, including Bitcoin (Bitcoin), Ethereum (Ethereum), Litecoin (LTC), Ripple, Bitcoin Cash (Bitcoin cash), chain link (Associate) And Polkadot (point).

The crypto asset fund traded and operated by SBI Alternative Funds was established on December 2 with a dedicated capital of 5 million yen, which is worth about 45,000 USD at the time of writing. However, the company may choose to release capital in smaller splits of 1 million yen each.

Source: SBI

according to According to the official statement, investors will need to go through an application process, which includes an anonymous cooperation agreement with SBI alternative funds, and purchase in advance. The reasons behind the company’s move are:

“Since it is not suitable for all customers, it can only be purchased by customers who meet certain standards set by our company.”

In addition, crypto investments made by such anonymous associations will be processed by the sister company SBI VC Trade, which handles cryptocurrency transactions. SBI also emphasized that none of the seven cryptocurrencies in the crypto asset fund will exceed 20%.

To ensure the long-term nature of the service, SBI stated that the fund “cannot be cancelled within one year between February 1, 2022 and January 31, 2023”. Investors in addition to bear other shared costs, including establishment and liquidation costs and audit costs.

SBI has set an age limit of 20 to 70 for the fund, and will implement a three-month lock-up period for each purchase, “in order to reduce investment risks by diversifying time.” The company will also rebalance the allocation of investment proportions once a month.

related: SBI Holdings invests in Singapore’s cryptocurrency exchange Coinhako

In addition to contributing to the adoption of cryptocurrency in Japan, SBI continues to expand its influence to other jurisdictions. Recently, the company invested in a Singapore cryptocurrency exchange called Coinhako.

Coinhako received SBI funding shortly after obtaining regulatory approval from the Monetary Authority of Singapore (MAS). As Cointelegraph reported, the investment was made through the SBI-Sygnum-Azimut Digital Asset Opportunity Fund, which was jointly established by SBI and the Swiss-based Sygnum Bank.

Coinhako plans to use SBI’s capital injection and its existing international network to “expand our business to other countries in Southeast Asia.”