Fisco, a Tokyo-based company that provides investment support services, announced that it will launch a fund of more than 300 million yen ($2.66 million) to invest in bitcoin and other cryptocurrencies as early as this month.
Fisco will invest its own money and raise capital from two other listed fintech companies, aiming for investment returns of about 20% per year.
In addition to investing directly in cryptocurrencies, the fund will seek to profit from price differentials among domestic and foreign cryptocurrency exchanges. It is being described as the first fund of its kind in Japan.
In August 2017 Fisco has issued Japan’s first bitcoin-denominated corporate bond to test the instrument’s potential to become a useful fundraising tool.