300 Million Yen: The First Japanese Crypto fund to Invest in Bitcoin, Cryptocurrencies

The Japanese financial information provider Fisco will launch a cryptocurrency fund worth more than 300 million yen ($ 2.66 million) to invest in bitcoin and other cryptocurrencies this month.

Based in Tokyo, Fisco, a research and information provider covering equities, currencies, bonds and commodities in Japan and beyond, is expected to open a dedicated cryptocurrency investment fund. According to a Nikkei report, the information provider will invest more than 300 million yen (about $ 2.66 million).

The first fund of its kind in Japan will focus on the future and will be presented at the end of January. Fisco aims to achieve a 20% return on the fund each year.

In addition, the fund will also seek to realize profits through variable price arbitrage opportunities of cryptocurrencies between domestic and foreign stock exchanges.

Fisco has been a forerunner in the research and adoption of cryptocurrencies. Earlier in August 2017, the information provider's cryptocurrency unit issued a three-year debt of 200 bitcoins (approximately $ 800,000 at that time) to another Fisco group . Masayuki Tashiro, director of Fisco's products, revealed that the intent of cryptocurrency debt was to explore the potential of bitcoin bonds as a viable fundraising tool. The operation, also in its way of being in the country, is followed by a payment method in the country.

Tashiro said at the time:

"We expect Bitcoin to be finally recognized as a financial product."

If bitcoin were to be included as a financial instrument under local laws, it would strengthen Fisco's business with new financial offers. "If we play an arranger role, we could win fees," Tashiro added.

Fisco is not alone in having bullish expectations for bitcoin as a financial instrument in Japan. MUFG, Japan's largest financial institution, is preparing to launch a service to secure Bitcoin. Mitsubishi UFJ Trust, the group's trust bank, has already applied for interest and is ready to launch in April 2018, after Japan's financial regulator and other cryptocurrencies and financial assets. in a trust.