Financial institutions around the world are increasing interest in giving their clients access to cryptocurrency investments, especially in the form of their own crypto funds.
In addition to respected American banks such as JPMorgan and Wells Fargo, this trend is also beginning to be of interest to financial corporations in Asia, where in particular SBI Holdings Inc. announced that it wants to launch its own crypto fund later this year.
In this case, it will be the first fund focused on investments in cryptocurrencies in Japan, which will provide individual investors with this form of diversification, informs Bloomberg.
Director & Senior Managing Executive Officer at SBI Holdings, Inc. Tomoya Asakura predicts that the fund could reach several hundred million dollars, which will be invested in popular cryptocurrencies such as BTC, ETH, XRP or LTC, as well as many others.
I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios, --- If our first fund goes very well, we’d like to move quickly to make a second one, said Tomoya Asakura, in a recent interview
As far as the conditions for investors are concerned, information on the minimum investment, which will range from 1 million yen ($9,100) to 3 million yen ($27,300), is known so far.
The exact launch date of the first crypto fund in Japan is not yet known, but according to SBI Holdings Inc. it should be by the end of November this year at the latest.