Huobi Group’s affiliate Huobi Technology Holdings has announced the official launch of Ethereum and Bitcoin funds for institutional investors in Hong Kong.
Ethereum and Bitcoin funds are passive, meaning they only track the behavior of the underlying assets. The third launched fund is active – the invested funds are distributed between a basket of various cryptocurrencies, and the shares of investments are actively changing in order to get the greatest profit.
Huobi Technology also launched a fund to invest in cryptocurrency stocks, mainly in digital asset mining firms. Huobi Technology received approval to launch cryptocurrency funds back in early March.
The funds are available to professional and institutional investors. Already, the amount of investments in four funds exceeds $ 50 million, and by the third quarter of this year it is expected that the figure will grow to $ 100 million.
Note that several cryptocurrency funds are already operating in Hong Kong. For example, in April 2020, a Bitcoin passive fund from Arrano Capital was launched. Also last May, MaiCapital launched the actively managed hedge fund Bitcoin + Investment Fund for professional investors.