Major Ripple partner in Japan, SBI Group, has announced that it is launching “SBI Cryptocurrency Asset Fund” to let ordinary investors stock up on XRP, Bitcoin, Ethereum, LINK, Bitcoin Cash and Polkadot.
The announcement was shared by Chinese crypto journalist Colin Wu.
SBI announced the release of Japan's first "cryptocurrency fund" for ordinary investors, with investment targets including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, LINK, Polkadot, and XRP. https://t.co/DP06fzpC1V— Wu Blockchain (@WuBlockchain) December 18, 2021
The crypto fund will be run by the SBI Alternative Fund GK. Before buying any crypto from the fund, investors will have to sign an anonymous partnership contract with the SBI Alternative Fund.
“If you wish to purchase this product, please conclude a silent partnership contract with the business operator (SBI Alternative Fund GK).”
The minimum investment must be 5 million yen or more, but it should come in 1 million yen units. Besides, the investment contract cannot be cancelled within a year and a fee will be charged by the fund for any crypto purchase here.
In order to trade the new product by SBI, an investor is required to have a general securities account with SBI Securities.