Gumi and SBI Unveil $18.3M Crypto Fund Ahead of Japan ETF Push

Japanese game developer Gumi and SBI Financial Services are teaming up to launch an $18.3 million crypto fund, backed by Daiwa Securities Group. The fund will be managed through SBI Crypto Fund, a joint venture in which SBI holds a 51% stake and gC Labs, Gumi's subsidiary, holds 49%. The target size of the fund is 3 billion yen, equivalent to about $18.3 million.

The fund will invest in Bitcoin (BTC) and major altcoins, using staking, portfolio rebalancing, and hedging strategies. Gumi aims to establish an operational record ahead of a potential future change to Japan's current ban on crypto exchange-traded funds (ETFs). However, no regulatory decision has been announced.

Gumi's balance sheet shows a significant increase in crypto assets over the past year, with 14.13 billion yen ($86.6 million) in holdings as of April 30. XRP is the core holding within that portfolio, and Gumi also runs portfolio management services through Hinode Technologies and manages other crypto investment funds.