Gumi Launches $18.3 Million Crypto Fund with SBI Financial Services

Japanese game developer Gumi is expanding its presence in the crypto market by launching a new fund in partnership with SBI Financial Services. The fund, which will begin operating on Saturday, will have an initial capital of approximately $18.3 million (3 billion yen).

The fund is operated by SBI Crypto Fund, a joint venture between SBI Financial Services and Gumi's subsidiary gC Labs. According to the announcement, the fund will primarily invest in Bitcoin and major altcoins using staking, portfolio rebalancing, and hedging strategies.

Gumi has been increasing its involvement in the crypto market, with its latest annual report showing that it held 14.13 billion yen in crypto assets as of April 30, nearly doubling from 7.58 billion yen a year earlier.