Financial giant SBI Holdings is planning to launch Japan’s first digital asset fund by December, Bloomberg report.
The new investment vehicle will have exposure to some major cryptocurrencies, including Ripple-affiliated XRP.
Morningstar Japan president Tomoya Asakura told the outlet that the fund will showcase the usefulness of diversification:
Advertisement
I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios.
With that being said, investors are expected to understand the risks associated with the novel asset class.
Alex DovbnyaSBI Holdings is not new to crypto. In early January 2016, the Tokyo-based financial conglomerate forged a partnership with prominent cryptocurrency company Ripple.
Yet, it took the company more than four years to set the fund in motion due to stringent regulations in Japan.
Shiba Inu (SHIB): 250% Needed to Reach ATH, Will Ethereum (ETH) Hold Above $3,000? Solana (SOL) Might Enter Price Correction
MicroStrategy (MSTR) Reaches New Record High After 24 Years as Bitcoin (BTC) Hits $87K
Binance's CZ Makes Major Statement as Bitcoin Hits $86K
Bitcoin Price Skyrockets to $85K. Could It Hit $850K?
Arman Shirinyan
U.Today Editorial Team
Vladislav Sopov
Dan Burgin