The new structure of the Japanese financial holding will invest in Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and other cryptocurrencies.
Japanese financial holding SBI Holdings will launch its own cryptocurrency fund by the end of November, Bloomberg reports .
Tomoya Asakura, president of SBI Morningstar Japan KK branch, told the publication that the volume of the crypto fund could be several hundred million dollars.
According to Asakura, the fund will invest in Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and other cryptocurrencies.
The SBI Holdings crypto fund will target investors who understand the risks of cryptocurrency trading. The minimum entry threshold for investors will be from $ 9,000 to $ 27,000.
Asakura added that if the crypto fund is successfully launched, SBI Holdings could launch another fund focused on cryptocurrencies.
SBI Holdings is a group of companies providing financial services. The group was formed in 1999 under the name SoftBank Investment.
In April 2011, SBI Holdings began trading on the Hong Kong Stock Exchange. SBI Holdings is a key partner of Ripple, the issuer of XRP cryptocurrency.
In early August, it became known that the investment bank JPMorgan launched its own bitcoin fund for wealthy clients. A passively managed bitcoin fund was launched in partnership with NYDIG (New York Digital Investment Group).
