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Japanese game developer Gumi will begin operating a ¥3 billion crypto asset fund on August 1 with SBI Financial Services, expanding its digital-asset investment business beyond its own token holdings.
SBI Crypto Fund I will invest mainly in Bitcoin and major listed altcoins while using staking, portfolio rebalancing and hedging strategies. Daiwa Securities Group and several other investors have also committed capital.
SBI Holds 51% of Three-Year Fund Operator
The fund will operate for three years as a private placement using a Japanese silent partnership structure. SBI Financial Services owns 51% of SBI Crypto Fund LLC, while Gumi’s wholly owned subsidiary gC Labs holds the remaining 49%.
The structure gives SBI majority control of the fund operator while keeping Gumi directly involved through its crypto-focused subsidiary.
Bitcoin and Altcoin Allocation Remains Undisclosed
Gumi has not disclosed how the ¥3 billion will be divided between Bitcoin and altcoins. It also has not identified the other cryptocurrencies, custody providers, fees, or specific hedging strategies that will be used after operations begin.
Those details will determine how much of the fund is exposed to market price movements, staking rewards and risk-management tools. The first disclosures after launch will give investors a clearer view of the fund’s actual portfolio strategy.
Fund Data Could Support Future Crypto Investment Trusts
Gumi plans to use the fund to build a performance record and collect operating data that could support future crypto investment products in Japan. The partners will study portfolios combining conventional financial assets with cryptocurrencies.
They will also assess whether digital assets can improve risk-adjusted performance in managed products. Gumi specifically identified investment trusts as one area for future research.
Japan Has Not Approved Crypto ETFs
The work is also intended to prepare for a possible relaxation of Japan’s restrictions on crypto exchange-traded funds. No Japanese crypto ETF has been approved.
The fund announcement does not establish a timeline for regulatory changes or ETF authorization. Any move toward listed crypto funds would still depend on Japan’s regulators changing the current framework.
Gumi Managed ¥14.13B in Crypto as of April 30
The fund adds to Gumi’s existing digital asset strategy. The company held and managed ¥14.13 billion in cryptocurrencies, excluding funds, as of April 30. That was up from ¥7.58 billion a year earlier.
Gumi’s crypto operations include direct holdings centered on XRP, portfolio management through Hinode Technologies and investment-fund activities. The company has also previously approved a ¥1 billion Bitcoin purchase for its treasury.
SBI Crypto Fund will begin deploying capital on August 1. Future disclosures will provide the first indication of its asset allocation, staking activity and performance during the three-year investment period.
