A Japanese firm is reportedly launching the country’s first crypto fund as digital assets boom globally

A Japanese firm is reportedly launching the country’s first crypto fund as digital assets boom globally

Japan may have its first cryptocurrency fund by the end of the year, first reported this week. Japanese conglomerate SBI Holdings is looking to launch the fund by November aimed at investors who already have an understanding of the risks of cryptocurrency investing, such as wild price swings, Tomoya Asakura told . Asakura oversees asset management for the country's biggest online brokerage. The fund plans to invest in , , , bitcoin cash, , among other assets. Investors may need to put in a minimum of around $9,100 (1 million yen) to roughly $27,200 (3 million yen). "Once people feel it firsthand ... they will understand that we aren't recommending cryptocurrencies as a tool of speculation," Asakura told . Due to Japan's strict regulations, it has taken SBI four years to get the fund running. All the while, demand for digital assets has been steadily growing. The largest cryptocurrency exchange in the US, , has by starting a in partnership with Japanese banking giant MUFG.