Japanese gaming company Gumi, through its subsidiary gC Labs, is set to launch “SBI Crypto Fund I” on Aug. 1 together with SBI Financial Services, according to an official announcement cited by ChainCatcher. The fund will have a size of about 3 billion yen, or roughly $18.3 million, and a three-year term. It will use a private placement structure, with Daiwa Securities Group and several other institutions participating as investors. The fund is set to focus mainly on Bitcoin and major altcoins, while using a mix of staking, rebalancing, and hedging strategies. According to the announcement, the vehicle is designed to serve as a bridge between the crypto asset market and Japanese companies, while building a track record that could support the future development of financial products such as crypto ETFs. Japan has not yet approved crypto ETFs, and the fund’s launch is being viewed as an attempt to connect traditional finance with digital assets.
Japanese gaming giant Gumi, through its subsidiary gC Labs, will launch “SBI Crypto Fund I” on Aug. 1 with SBI Financial Services, according to an official announcement cited by ChainCatcher.
The fund will be sized at about 3 billion yen, or roughly $18.3 million, and will run for three years under a private placement structure. Daiwa Securities Group and several other institutions are participating as investors.
The vehicle will invest mainly in Bitcoin and major altcoins. It will use a combination of staking, rebalancing, and hedging strategies.
According to the announcement, the fund is intended to act as a bridge between the crypto asset market and Japanese companies, while building a track record for the future development of financial products such as crypto ETFs.
Japan has not approved crypto ETFs at this stage. The launch of the fund is being seen as an effort to link traditional finance with digital assets.
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