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SBI Holdings Inc., a Tokyo-based banking conglomerate, has revealed intentions to develop the country’s first crypto fund.

Financial institutions worldwide are becoming increasingly interested in providing cryptocurrency investments to their customers, particularly in the form of their crypto funds.

Aside from well-known American banks like JPMorgan and Wells Fargo, this trend is beginning to pique the interest of Asian financial institutions, with SBI Holdings Inc. announcing plans to launch its crypto fund later this year.

Bloomberg will be the first fund in Japan dedicated to cryptocurrency investments, providing individual investors with this type of diversification.

Tomoya Asakura, Director & Senior Managing Executive Officer of SBI Holdings, Inc., estimates that the fund will be worth several hundred million dollars and invested in major cryptocurrencies such as BTC, ETH, XRP, and LTC, among others.

Tomoya Asakura said in a recent interview:

  • “I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios, If our first fund goes very well, we’d like to move quickly to make a second one.”

Regarding investor requirements, only the minimum investment amount, which will range from 1 million yen ($9,100) to 3 million yen ($27,300), is now known.

The exact date of the first crypto fund in Japan is unknown, but it is expected to start by the end of November at the latest, according to SBI Holdings Inc.

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