SBI Holdings, the Japanese financial services group, plans to release a crypto fund by the end of this autumn, a source confirmed for Bloomberg.
Tomoya Asakura, the president of SBI affiliate Morningstar Japan KK, commented that the fund may reach a value of several hundred million dollars in Bitcoin, Ether, Bitcoin Cash, XRP, Litecoin, and other cryptos.
The fund will probably ask for a minimum investment of somewhere between $9,000 and $27,000 with a focus on investors who are aware of the risks and the volatility of cryptocurrencies.
“I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios,” declared Asakura for Bloomberg, mentioning that if the fund succeeded, the company would “move quickly” to start a second one.