Gumi and SBI Establish 3 Billion Yen Cryptocurrency Fund to Promote Japan's Physical ETF

Gumi and SBI Establish 3 Billion Yen Cryptocurrency Fund

Gumi, a leader in Japan's entertainment blockchain sector, has partnered with financial giant SBI Financial Services to establish the "SBI Cryptocurrency Fund I" with a target investment amount of 3 billion yen.

This fund will be managed through a joint venture called "SBI Crypto Fund," with SBI holding a 51% stake and Gumi's subsidiary gC Labs holding 49%. Additionally, strong institutional investors, including Daiwa Securities Group, will participate, and operations are set to begin on August 1, 2026.

The investment targets will be carefully selected Bitcoin (BTC) and major altcoins listed on major exchanges, employing an advanced management style that combines staking, portfolio rebalancing, and hedging transactions.

Background Legal Revisions and Steps Toward Physical ETFs

The true aim of establishing this fund is to establish operational performance in anticipation of the future legalization of physical cryptocurrency ETFs (exchange-traded funds) in Japan.

Currently, cryptocurrency ETFs are not approved in the Japanese market, but amendments to the Financial Instruments and Exchange Act and the Payment Services Act have been passed in the Diet, and the regulatory environment is being prepared for enforcement in 2027. Efforts are underway to clearly position cryptocurrencies as financial products, strengthen criminal penalties for fraudulent transactions, and enforce disclosure rules. Additionally, a reduction in the highest tax rate from 55% to 20% (scheduled for implementation in 2028) is being supported, contributing to the improvement of the system.

Through its newly established division "Neo Crypto," Gumi aims to build a leading position in the domestic market in preparation for the wave of regulatory relaxation.

Expanding Balance Sheet and SBI's Cryptocurrency Infrastructure

Gumi itself is rapidly expanding its cryptocurrency holdings as part of its financial strategy, with its cryptocurrency holdings reaching 14.13 billion yen as of the end of April 2026, nearly doubling from 7.58 billion yen the previous year. The company aims to become the largest XRP treasury firm in Japan.

Meanwhile, its partner, SBI Group, is also riding the wave of market expansion. Its subsidiary cryptocurrency exchange, SBI VC Trade, has surpassed 2 million registered accounts, benefiting from the integration effects with Bitpoint Japan and the growing demand for yen depreciation hedging by companies. The exchange is strengthening its handling of stablecoins such as USDC, RLUSD, and yen-pegged tokens like JPYSC, solidifying its position in the domestic market.

Japan's cryptocurrency market has been smaller compared to other countries due to strict legal regulations, but the serious approach by Gumi and SBI towards institutional investors is expected to serve as a significant stepping stone to elevate the domestic market to the next phase, attracting attention.

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