The demand for cryptoasset trading has grown globally, with more investors of all statures drawn into the space, with even many prominent wall street traders investing in cryptocurrency, utilising a new tool to diversify their existing portfolio.
Recently in Japan, a major banking company, SBI Holdings, hopes to bring crypto exposure and its benefits to the country. As Bloomberg reports, SBI Holdings aim to create Japan’s first cryptocurrency fund, set to begin operations in Japan by the end of November this year.
As reported by the Bloomberg article, SBI Holdings currently plans to provide investment services for popular cryptoassets including Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC) and XRP. Nevertheless, investors are expected to deposit between $9000 to $27000 approximately 1 to 3 million yen; the large deposit requirement may be in place to expand the projects and ensure its optimal performance upon launch.
The Director of SBI, Tomoya Asakura, has confirmed that the banking platform aims to provide Japan with more exposure and opportunities to buy cryptoassets alongside its traditional investment products. Asakura said that the integration of cryptocurrency investment options will be used for diversifying portfolios and that if this project is a success, the company will establish a second fund.
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