SBI Group, a major Ripple partner in Japan, has announced that it has launched the “SBI Cryptocurrency Asset Fund” to enable ordinary investors who do not know much about the crypto market to also invest in Bitcoin and altcoin projects. For details of the news cryptocoin.com keep reading.
A new fund based on altcoin projects
The fund, launched by SBI Group, will include Ripple (XRP), Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Bitcoin Cash (BCH) and Polkadot (DOT). Colin Wu, a Chinese crypto money journalist, announced the fund and altcoin projects that will take place on his Twitter account:
SBI has announced the launch of Japan’s first “cryptocurrency fund” for ordinary investors with investment goals including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, LINK, Polkadot and XRP.
The crypto fund will be managed by the SBI Alternative Fund GK. Before purchasing any crypto from the fund, investors will need to sign an anonymous partnership agreement with the SBI Alternative Fund.
If you want to purchase this product, please sign a confidential partnership agreement with the operator (SBI Alternative Fund GK).
On the other hand, a minimum of 5 million yen is required for investment. But it has to be invested in units of 1 million yen. Also, the investment contract cannot be canceled within one year and in case of any crypto purchase here, a fee will be charged by the fund. However, to trade a new SBI product, an investor must have a joint securities account with SBI Securities.
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