KB Asset Management, the investment arm of KB Financial Group, has launched the first blockchain-focused mutual fund in Korea.
The fund is divided into three layers
The KB asset fund will invest in companies related to blockchain technology. The fund itself is divided into three main investment areas. First, companies that make blockchain-related hardware, such as CPUs and graphics cards. Companies that do this are Nvidia, AMD, Intel, and Samsung Electronics.
The second layer of the fund includes software companies that provide blockchain-based services to customers, including IBM, Amazon, and Microsoft, as well as Asian big tech companies Baidu and Fujitsu.
The final layer of the fund is made out of companies that apply blockchain technology to their current business model. These include PayPal, Visa, Square, NTT DATA, and large platform companies such as Tencent and Google.
The fund will invest primarily in U.S. companies, with smaller stakes in Japanese, European and Chinese companies and aims to make it easier for retail investors to get access to investments into blockchain-related companies
This is not the first fund launched by KB Asset Management
KB Assets also launched the country’s first metaverse fund in June to allow retail investors to invest in companies working to create a digital metaverse. Companies the fund would invest in include Facebook, Apple, Microsoft, Autodesk, NVIDIA, Unity Software, Roblox, Naver, Hybe, Amazon, Qualcomm, and Snowflake.
According to the website of KB Asset Management, the company currently manages more than $90 billion as of February.