Japanese SBI Group launches crypto-asset fund for investors

Japanese SBI Group launches crypto-asset fund for investors


SBI Group, famed as Tokyo’s biggest finserv firm, has reportedly now allowed general Japanese investors to purchase crypto via their newly launched ‘crypto asset fund’.


The fund comprises of seven cryptocurrencies, including Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Chainlink and Polkadot. 


The crypto-asset fund, which is to be traded and operated by the SBI Alternative Fund, had been established on December 2 with a dedicated capital of 5 million yen, worth roughly $45,000 while writing this. However, the company might opt to release the capital in smaller break-ups, 1 million yen each.


According to its official statement, investors would be required going through an application process that includes an anonymous collaboration agreement with SBI Alternative Fund prior purchases. 


The firm’s reasoning behind the move states is that since it is not suitable for all customers, it can be purchased only by customers who would meet certain standards set by the SBI.

In addition, all crypto investments made by anonymous associations would be handled by SBI VC Trade, which is its sister firm dealing in cryptocurrency trading. 


SBI has also highlighted that none of the seven cryptocurrencies in its crypto-asset fund would exceed 20 percent in ratio.


Assuring the longevity of its service, SBI has further stated that the fund “cannot be cancelled within one year” between February 1 2022, to January 31, 2023. 


Investors would also be subject to unrealized capital gains taxes other than bearing other shared expenses that include establishment, liquidation costs and audit expenses.


SBI has mandated an age limit between 20 to 70 for the fund. It would also enforce a three-month locking period for every single purchase that aims “to reduce investment risk by diversifying time.” The company said it would also rebalance the investment ratio allocation every month.


While contributing to Japan’s crypto adoption, SBI has continued to spread its reach in far other jurisdictions. Most recently, the firm invested in the Singaporean crypto exchange, Coinhako.


Coinhako has reportedly received SBI’s funding following it receiving regulatory approval from the Monetary Authority of Singapore (MAS). The investment had been made via the SBI-Sygnum-Azimut Digital Asset Opportunity Fund, a fund that was jointly set up by SBI and Swiss bank, Sygnum.


Coinhako is planning to expand their business to other countries in Southeast Asia through the utilization of SBI’s fund and its pre-existing international network.

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