Fisco, a Japan-based financial information provider, has announced its plans to launch a cryptocurrency fund.
Nikkei Asian Review reported that the fund will invest over 300 million yen in cryptocurrencies such as bitcoin as early as this month and aim for investment returns of about 20 percent per year. Fisco will invest its own capital into the fund, along with investments from two other listed fintech companies.
However, according to the official release, Fisco said (loosely translated):
“Several other companies in addition to Fiscal are planning to invest in the fund and the operating scale is expected to be approximately 1 billion yen, not a total of approximately 300 million yen [as] in some newspaper reports.”
Furthermore, the fund will also seek to gain from arbitrage opportunities between domestic and foreign cryptocurrency exchanges.
In August 2017, Fisco Cryptocurrency Exchange announced the issuance of bitcoin-denominated bonds. A subsidiary of the Fisco Group, Fisco Cryptocurrency Exchange began bitcoin exchange operations in 2016.
