SBI Cryptocurrency Fund Launches, Eyes Japan's Prohibited ETFs

SBI Crypto Fund, a joint venture between gumi and SBI Financial Services, is set to launch its first cryptocurrency fund, SBI Crypto Fund I, on August 1. The fund will be operated by SBI Crypto Fund, which was established as a subsidiary of gC Labs, a wholly-owned subsidiary of gumi.

The fund will focus on major altcoins and Bitcoin, utilizing a comprehensive investment strategy that includes staking, rebalancing, and hedging. One notable aspect of the fund is its intention to include Japan's ETFs in its portfolio, which are currently prohibited from investing in cryptocurrencies. The fund aims to accumulate data and research on the performance of cryptocurrency investments and explore new strategies for combining traditional assets with cryptocurrencies.

The fund will have a private placement format, aiming to raise around ¥3 billion (approximately $27 million USD) in funding. It will operate as an anonymous partnership with a three-year lifespan. gumi is a subsidiary of SBI Holdings, while SBI Financial Services is a 100% owned subsidiary of SBI Holdings.