Subscriptions for the fund will be capped at 100 billion Yen, which translates to around $900 million.
As cryptocurrencies edge their way more and more into the mainstream of the financial industry, Cayman-Islands headquartered firm Epoch Partners Limited announced on Monday that it has launched the world’s first initial public offering (IPO) of a cryptocurrency and digital assets related fund in Japan.
According to the statement from the company, the move capitalizes on the increasing popularity of cryptocurrencies. The Securities Registration Statement of the fund was initially filed on the Japanese Financial Services’ disclosure system EDINET on September 28, 2018.
Subscriptions for the fund are now open, and according to the statement, will be capped at 100 billion Yen, which translates to around $900 million. The company will invest in funds and other vehicles of investments which have exposure to cryptocurrencies, initial coin offerings (ICOs) and more – all seeking solid returns while reducing volatility.
The fund is being marketed by Teneo Partners, a Tokyo-headquartered Japanese securities firm. The company will sell the fund in addition to other unnamed securities firms in Japan.