Sora Ventures launches Asia’s first Bitcoin ETF with $1 billion capital

During Taipei Blockchain Week, Sora Ventures unveiled Asia’s first Bitcoin fund, aiming to purchase $1 billion worth of BTC over the next six months.

This marks the first time in Asia that a company of such scale has committed to establishing a network of treasury firms working with Bitcoin, with capital allocated to the region’s first $1 billion treasury fund, said Luke Liu, managing partner at Sora Ventures.

Last year, the company invested in the Japanese firm Metaplanet, allocating its first ¥1 billion (around $6.5 million) into Bitcoin. Since then, Sora Ventures has invested in Hong Kong–based Moon Inc., Thailand’s DV8, and South Korea’s BitPlanet, all of which also hold crypto assets.

Asian companies holding Bitcoin continue to expand their reserves. Japanese firm Metaplanet recently gained shareholder approval to raise funds through the issuance of up to 555 million new shares to purchase more Bitcoin. The company’s total BTC holdings recently surpassed 20,000 coins, making it the sixth-largest corporate Bitcoin holder.

See also: "Public companies hold over 1 million bitcoins on their balance sheets"

#Reserve #Bitcoin (BTC) #ETF #Blockchain

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