Gumi and SBI launch Bitcoin and altcoin fund as game developer's crypto holdings nearly double
A fund holding Bitcoin ($BTC) and altcoins, launched by Japanese video game developer Gumi in partnership with financial group SBI, extends a crypto business the company has centered on XRP, Gumi disclosed. The company said its total crypto holdings have nearly doubled over the past year.
Key takeaways
- Japanese video game developer Gumi, in partnership with financial group SBI, launched a fund holding Bitcoin ($BTC) and altcoins, extending a crypto business previously centered on XRP.
- Gumi said its total crypto holdings have nearly doubled over the past year, though it did not specify whether that measure refers to unit count, market value, or both.
- XRP remains the anchor of Gumi's crypto business, with the new SBI fund layering Bitcoin and other altcoins on top rather than displacing XRP.
- The new fund is structured inside a formal financial vehicle rather than held directly on Gumi's balance sheet.
- Neither company disclosed the fund's total size, the Bitcoin-to-altcoin split, a deployment timeline, or who is selling the assets into the fund and at what price.
A fund holding Bitcoin ($BTC) and altcoins, launched by Japanese video game developer Gumi in partnership with financial group SBI, extends a crypto business the company has centered on XRP, Gumi disclosed. The company said its total crypto holdings have nearly doubled over the past year.