By Priyanka Shetty for Blockchain Asset Review
December 20, 2021
SBI Group, a Japan based financial services company has announced the launch of a crypto asset fund that consists of seven different digital currencies, according to Bitcoin.com. SBI’s crypto fund consists of bitcoin (BTC), ethereum (ETH), polkadot (DOT), chainlink (LINK), litecoin (LTC), xrp (XRP), and bitcoin cash (BCH).
The press release by SBI explains, Japanese investors need to “fully understand the nature of crypto assets and risks related to investment in crypto assets” and added that this is Japan’s first cryptocurrency fund for general investors.
The application period to invest in SBI’s new crypto fund is between December 17, and January 31, 2022. The fund will be managed under the name SBI Alternative Fund GK. Furthermore, the future rebalancing of assets can happen after maturity but for now, each crypto in the fund has around 20% or less in ratio. SBI Group’s new crypto fund contract is between February 1, 2022, and January 31, 2023.
SBI’s new crypto fund also has its own web portal and the fund was reportedly established on December 2, 2021.