Bitfury, a cryptocurrency mining and blockchain development firm, is planning to launch a Bitcoin (BTC) mining fund in Japan in July. Katsuya Konno, the head of Bitfury Japan, confirmed the development. As uncertainty regarding traditional markets amid the coronavirus pandemic continues, investors are increasingly paying attention to Bitcoin and cryptocurrencies as an alternative investment.
However, there has not yet been a way for investors in Japan to gain indirect exposure to Bitcoin through crypto-related infrastructure. The new offering will purportedly be the first crypto-mining fund in Japan, and will initially cater to institutional investors such as "family offices, owner-operated small and medium‐sized enterprises and religious corporations" before expanding to retail clients.