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:
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.
Asakura says that SBI Holdings will swiftly roll out another crypto fund if the first one ends up being a success. The company might also be considering launching a separate investment vehicle for institutional investors.SBI 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.
Tomiwabold Olajide
Gamza Khanzadaev
