Gumi Launches $18M Bitcoin Fund with Major Investor Backing

Gumi, a Tokyo-listed Japanese game developer, is expanding its business beyond mobile games by launching an $18 million Bitcoin fund. The three-year fund, called SBI Crypto Fund I, will invest mainly in Bitcoin and major altcoins using staking, rebalancing, and hedging strategies.

The fund is backed by investors including Daiwa Securities Group, one of Japan's largest brokerage groups, and will be operated by SBI Crypto Fund LLC. The company is owned 51% by SBI Financial Services and 49% by gC Labs, a wholly-owned Gumi subsidiary.

Gumi said the fund aims to establish a leading position in market formation by accumulating a track record and data through its operations. This comes as Japan prepares for potential changes in regulations, allowing domestic investment funds to offer spot crypto ETFs.