Japanese financial conglomerate SBI Holdings plans to launch the country's first cryptocurrency fund in late November, Bloomberg has reported.
According to Tomoya Asakura, a top manager at SBI Holdings, the fund will invest in Bitcoin, Ether, Litecoin, XRP, Bitcoin Cash and possibly other cryptocurrencies.
The fund's assets could reach "hundreds of millions of dollars," Asakura has added.
The minimum investment amount will be 1-3 million yen (approximately $9,088-27,264).
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The fund is aimed at investors who are aware of the risks associated with cryptocurrencies, including their volatility, Asakura has noted:
"I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios."
If the first cryptocurrency fund is successful, the company hopes to create another one, Asakura has said.
SBI Holdings launched a mining pool in March.