Huobi Subsidiary Launches 4 Crypto Funds in Hong Kong- PingWest
source link: https://en.pingwest.com/w/8538
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Huobi Subsidiary Launches 4 Crypto Funds in Hong Kong
1 hours agoBeijing (PingWest)—Huobi Asset Management, an affiliate of the crypto exchange Huobi, has launched four virtual asset funds for institutional investors in Hong Kong.
Two of the new investment vehicles are passive funds that mirror the value of Bitcoin and Ethereum, another is an actively managed fund that invests in a basket of cryptocurrencies. The company also launched a private equity fund that will invest in crypto mining operations.
Only accredited professional investors such as family offices, high-net-worth individuals, and asset managers can invest in the funds.
Investors have already pledged $50 million across the four funds, and the company is targeting $100 million of total managed assets by the third quarter.
Hong Kong Securities and Futures Commission (SFC) granted Huobi Asset Management licensee to operate 100% digital asset funds on March 4.
This is not the first time a Hong Kong-regulated asset management company has launched a pure cryptocurrency fund. Venture Smart Asia, a Hong Kong-based wealth management company, launched a BTC fund in Hong Kong in April last year through its blockchain investment arm Arrano Capital.
Founded in September 2013, Huobi is one of the largest digital currency exchanges in China.
China prohibits its citizens from directly exchanging yuan for cryptocurrencies through online sites, and has imposed restrictions on ICO.
SHARE
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK