Gumi and SBI Unveil $18.3M Bitcoin Fund as Institutional Crypto Takes Hold in Japan

Gaming firm gumi Inc. and financial giant SBI have launched a new investment vehicle targeting Bitcoin and major altcoins in Japan's growing institutional crypto market.

The SBI Crypto Fund I, which began operations on August 1, has a target size of 3 billion yen, roughly $18.3 million, and will deploy capital through strategies including staking, hedging, and portfolio rebalancing.

The fund operates through SBI Crypto Fund LLC, with SBI Financial Services holding a 51% stake and gumi's subsidiary gC Labs owning the remaining 49%. Daiwa Securities Group and Yamada Securities Group are also listed as investors.

Gumi has been building its digital asset operation since at least 2018, with its total crypto treasury valued at approximately 14 billion yen ($86 million) as of April 30. The company aims to become Japan's largest XRP treasury company and has created a dedicated 'Neo Crypto' division to accumulate operational experience.