SBI Holdings Japan’s financial giant is all out to launch the country’s first crypto Fund, the fund will invest in Bitcoin, Ripple (XRP), Litecoin, Bitcoin Cash and Ethereum.
According to Bloomberg, financial giant SBI Holdings plans to launch Japan’s first digital asset fund by December.
The new investment vehicle will have exposure to a number of popular cryptocurrencies, including Ripple’s XRP.
According to Morningstar Japan president Tomoya Asakura, the fund will demonstrate the value of diversification:
I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios.
With that in mind, investors should be aware of the dangers involved with the new asset class.
SBI Holdings would quickly launch another crypto fund, according to Asakura, if the first one is a success. It’s also possible that the corporation will develop a separate investment vehicle for institutional investors.
SBI Holdings is no stranger to cryptocurrency. The Tokyo-based banking conglomerate partnered with famous cryptocurrency firm Ripple in early January 2016.
Despite this, due to Japan’s strict laws, it took the corporation more than four years to get the fund up and running.