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Financial services company SBI Group launches diversified crypto funds in Japan – – Crypto News

SBI Group, the financial services group of companies headquartered in Tokyo, Japan, has announced the launch of a crypto asset fund made up of seven different digital currencies. The crypto fund launched by the Japanese company includes Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Chainlink and Polkadot.

The new crypto fund of the SBI Group uses 7 different digital assets

Three months ago, SBI Holdings, often referred to as the SBI Group revealed The company planned to launch a crypto asset fund. At the time, SBI said the new fund would be launched in late November, but the official press release on launch released on December 17th. In addition to the press release, SBI also published one more detailed summary of the digital monetary fund.

SBI’s crypto fund consists of Bitcoin (BTC), Ethereum (ETH), dotted (DOT), Chain link (LINK), Litecoin (LTC), xrp (XRP), and Bitcoin Cash (BCH). The financial services company calls it “Japan’s first general investor cryptocurrency fund”. Japanese investors need to “fully understand the nature of crypto assets and the risks associated with investing in crypto assets,” the press release said.

The application deadline to invest in SBI’s new crypto fund runs between December 17 and January 31, 2022. The fund is managed under the name SBI Alternative Fund GK and the press release further explains that a future rebalancing of assets after maturity except for now, every crypto in the fund has a ratio of around 20% or less. The new crypto fund contract of the SBI Group runs between February 1, 2022 and January 31, 2023.

SBI Alternative Fund “aims to reduce investment risk through time diversification”

SBI has been in the crypto scene for many years development all kinds of products. The company has worked together with Ripple, it acquired the British crypto services company B2c2 and SBI in partnership with the Stuttgart Stock Exchange in 2019 to offer crypto services in Europe and Asia. Unlike the early days of crypto, Japan is Crypto Regulations have become stricter, which greatly slows the adoption of SBI crypto funds.

“First buy and sell to maturity will each take 3 months,” explains SBI’s press release. “The aim is to reduce the investment risk through time diversification. Automatic rebalancing of the allocation of investment quotas once a month, ”says the financial institution’s announcement.

SBI’s new crypto fund has its own Internet portal and the fund was reportedly launched on December 2, 2021. Interestingly, the SBI press release released on Friday mentions the possibility that the SBI Group is trading “Bitcoin Futures ETFs” while continuing to mention the “widespread use of NFTs (non-fungible tokens)”. with blockchain technology. “

What do you think of SBI’s new crypto fund? Let us know what you think on this matter in the comments below.

Financial services company SBI Group launches diversified crypto funds in Japan – – Crypto News, Crypto Trading News

Jamie Redman

Jamie Redman is the News Lead at News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 4,900 articles for News on the disruptive protocols emerging today.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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