Gumi Launches ¥3 Billion Crypto Fund with SBI

Gumi, a Japanese game developer, has launched a ¥3 billion cryptocurrency investment fund in partnership with SBI Financial Services. The fund will invest in Bitcoin and major altcoins while employing staking and hedging strategies to manage risk.

The fund is managed by SBI Crypto Fund, jointly established by SBI Financial Services and Gumi subsidiary gC Labs. SBI holds 51% of the fund, while gC Labs owns 49%. Daiwa Securities Group has also contributed capital.

Gumi aims to connect Japanese corporate capital with the cryptocurrency market and build a performance track record in preparation for potential changes to Japan's cryptocurrency exchange-traded fund (ETF) system. The company already holds its own cryptocurrencies centered on XRP and runs a cryptocurrency portfolio management service through its subsidiary Hinode Technologies.