Bitfury Announces the Launch of a Bitcoin Mining Fund in Japan; Second One After North America

The two firms now aim to scale investment options for individual and institutional investors via their range of digital assets

Bitfury has announced the launch of a Bitcoin Mining Fund in Japan this July, barely a month since it launched a similar product for the North American market.

The firm, whose focus is on the provision of infrastructure for blockchain development and crypto mining, partnered with Nippon Angel Investment Company (NAIC) to roll out this milestone. NAIC is regulated by Japan's Financial Services Agency (FSA) as a fund manager within its jurisdiction.

The announcement notes that NAIC conducted proper due diligence on Bitfury prior to onboarding them as investment partners. These two firms are now looking to scale investment options for individual and institutional investors via digital assets.

Ideally, institutions can buy in on assets like Bitfury's data center through the firm's investor program and NAIC digital currency fund. Bitfury's founder and CEO, Valery Vavilov, emphasized on this approach to diversify portfolios:

“We are looking forward to bringing this diverse investment route to investors in Japan.”

He went on to highlight that this type of investment vehicle will spur digital currency adoption especially with unprecedented volatility in global markets. While the project is set to accommodate both individual and institutional investors in the long-run, it will initially serve SMEs, religious corporations, and family offices before scaling to the retail market.

The head of Bitfury in Japan, Katsuya Konno, has since expressed optimism that this project will attract a significant market demand. Speaking to Cointelegraph, Konno said that the product's yield is different from other assets in the market hence a competitive advantage. He added that the timing of the product launch is critical based on market reactions post-COVID:

“This fund brings digital currency investments to Japanese investors at a critical time, when we are seeing risk/return profiles across other asset classes significantly change in reaction to the COVID-19 pandemic.”

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

China State-Owned Media Covers Crypto as 2020’s Best Performing Assets Driven by DeFi & Weak Dollar

In an unusual coordinated report on Friday, several Chinese state-owned media covered cryptocurrencies, calling them the best-performing assets of 2020. The country’s top broadcaster, China...

Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens

DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges. Over the past few months,...

Ethereum ‘Getting Ready for Spadina' Testnet Next Week

The Spadina testnet of ETH 2.0 has been scheduled for genesis before the month ends, on September 29 at 12 pm UTC, as per...

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8). The exchange has reportedly lost $150...

Crypto Custodian, Anchorage, Adds Support for DeFi Tokens: BAL, NXM, AAVE, UNI, and YFI

Anchorage, the Delaware corporation headquartered in San Francisco, California, and digital asset custodian for institutional investors is diversifying its DeFi token options for its...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today