Japan’s gumi to begin managing SBI Crypto Fund I on Aug. 1

Japanese game company gumi announced it will begin managing SBI Crypto Fund I on Aug. 1 through its subsidiary gC Labs. The cryptocurrency fund was jointly established with SBI Neo Financial Services, with participation from multiple investors including Daiwa Securities Group, and will use staking, rebalancing and hedging strategies centered on Bitcoin and major altcoins. Gumi said it aims to build a track record and accumulate data with a possible approval of cryptocurrency ETFs in Japan in mind, while also reviewing ways to incorporate cryptocurrencies into investment trusts in the future.