Huobi Technology Holdings plans to launch three cryptocurrency funds at once in Hong Kong, all funds of these funds will be invested in digital assets.
Last August, the company received approval from the Hong Kong Securities and Futures Commission (SFC) for asset management, but the launch of funds that invest exclusively in digital assets required additional regulatory approval.
In the near future, Huobi Technology Holdings will launch Bitcoin and Ether investment funds, as well as a multi-cryptocurrency fund. In addition, a hybrid fund will emerge, 10% of which will be invested in digital assets, while the remaining 90% will be allocated to securities and other traditional assets. The size of the funds has not yet been determined.
“The amounts of funds managed by the funds are still being discussed and depend on the development of sales channels. But we strive to become the leading virtual asset management company in Asia, ”said Mandy Liu, vice president of investor relations at Huobi Technology Holdings.
In the spring of 2020, MaiCapital launched an actively managed hedge fund Bitcoin + Investment Fund for professional investors in Hong Kong.