SBI Group launches crypto-asset fund for Japanese investors


Tokyo’s largest financial services firm, SBI Group, will now allow Japanese investors in general to purchase cryptocurrencies through its new ‘crypto asset fund’. The fund is made up of seven cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, Bitcoin Cash (BCH), Chainlink (LINK) and Polkadot (DOT).

The crypto-asset fund, which will be traded and operated by the SBI Alternative Fund, was established on December 02 with a dedicated capital of 5 million yen, valued at approximately $ 45,000 at the time of writing. However, the company can choose to release the capital in small divisions of 1 million yen each.

Source: SBI

According to the official statement, investors will have to go through an application process that includes an anonymous partnership agreement with SBI Alternative Fund before purchases. The company’s reasoning behind this decision is as follows:

“As 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 these anonymous associations will be managed by SBI VC Trade, a sister company specializing in cryptocurrency trading. SBI also pointed out that none of the crypto-asset fund’s seven cryptocurrencies will exceed 20% in ratio.

Ensuring the longevity of the service, SBI said the fund “cannot be canceled within one year,” between February 1, 2022 and January 31, 2023. Investors will also be subject to taxes on over- unrealized values ​​in addition to bearing other costs, including establishment and liquidation costs and audit costs.

SBI has set an age limit of between 20 and 70 years for this fund and will apply a three-month blocking period for each purchase “with the aim of reducing investment risk by diversifying time”. The company will also rebalance the investment ratio allocation once a month.

Related: SBI Holdings invests in Singaporean crypto exchange Coinhako

In addition to helping crypto adoption in Japan, SBI continues to expand its reach into other jurisdictions. Most recently, the company invested in a Singaporean crypto exchange named Coinhako.

Coinhako received the funding from SBI shortly after receiving 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, a fund jointly created by SBI and Swiss bank Sygnum.

Coinhako plans to “expand our business to other countries in Southeast Asia” using the injection of funds from SBI and its pre-existing international network.


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