Gumi and SBI Launch $18.3 Million Crypto Fund for Bitcoin and Altcoins

Gumi, a Japanese game developer and parent company of gC Labs, has launched a cryptocurrency investment fund in partnership with SBI Financial Services. The joint venture, which is managed by SBI Crypto Fund, will invest $18.3 million in Bitcoin and major altcoins using staking, portfolio rebalancing, and hedging strategies.

The fund aims to prepare for the possible approval of crypto exchange-traded funds (ETFs) in Japan, and is intended to link the country's corporate sector with the cryptocurrency market. Gumi already manages its own XRP-centered portfolio and has seen its crypto holdings nearly double to 14.13 billion yen as of April 30.

The launch aligns with Gumi's broader expansion into digital assets, including its subsidiary Hinode Technologies, which offers portfolio management services and a crypto investment fund business.