Fisco, a bitcoin exchange and investment research company based in Japan, is planning to launch a cryptocurrency fund.
\r\nAccording to Nikkei, the fund, which is due to launch in the coming months, is planning to invest over 300 million yen ($2.66 million) in bitcoin and other cryptocurrencies and claims to be the first fund of its kind in the country.
\r\nThe fund will be looking to profit from the recent interest in bitcoin and other alt-coins such as ETH, XRP and ZDR, by exploiting any price differentials between foreign and local cryptocurrency markets.
\r\nThe announcement details how Fisco is planning to invest its own money, as well as raising additional capital from other fintech companies. Fisco hopes to return around 20% on their investment every year.
\r\nFisco launched a bitcoin exchange in August 2016 and has since made investments in the TechBureau coin exchange. The firm also launched a 3-year test bitcoin bond which they issued in August 2017, with each bond being worth 200 bitcoins.
\r\nSpeaking with Bloomberg, Fisco\'s chief product officer, Masayuki Tashiro, said that if the new cryptocurrency fund receives government support, it could help to open up new revenue streams.
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