Japanese financial services giant launching cryptocurrency fund that will invest in XRP

Japanese financial giant SBI Holdings is reportedly launching the country’s first cryptoasset fund, which will invest in XRP and four other popular digital assets.

According to a report by Bloomberg, SBI intends to launch a fund that will invest in Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin. Tomoya Asakura, the President of SBI affiliate Morningstar Japan K.K., told Bloomberg the fund would be aimed at investors familiar with cryptoassets and the volatility involved.

Asakura said the fund would require a investment of at least 1 million yen ($9,100) with the goal of creating a diversified cryptoasset offering:

I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios.

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