Huobi Technology Holdings is set to launch three funds that are 100% invested in digital assets

According to Wu Blockchain, Huobi Technology Holdings, a Hong Kong-listed company owned by the CEO and Chairman of Huobi exchange, Li Lin, will launch three 100% invested funds go to digital assets.

Huobi exchange’s sister firm plans to launch three funds that are 100% invested in crypto assets

Huobi Tech’s wholly-owned subsidiary Huobi Asset Management has added a regulated clearinghouse from the Hong Kong Securities and Futures Commission (SFC) to operate 100% digital asset funds.

With regulatory approval, Huobi Asset Management plans to launch a BTC tracking fund, an ETH tracking fund, and a multi-strategic digital asset fund, all of which are 100% crypto invested. Besides, it deploys a multi-asset fund that divides 10% of digital assets and 90% of equity and fixed income. Huobi Tech said the fund’s registration accepts both fiat and crypto.

Huobi Tech has not disclosed the expected size of the planned funds. This is not the first time an asset manager-managed by Hong Kong has launched a pure cryptocurrency fund offering an opportunity for professional and institutional investors.

Venture Smart Asia, a Hong Kong-based asset management firm, launched a BTC fund in Hong Kong last April through blockchain investment arm Arrano Capital. The company said at that time their target size for the first year was 100 million dollars.

Meanwhile, the Hong Kong government will introduce a new bill to the city’s legislature this year to bring crypto exchanges into the jurisdiction under a new licensing regime.

The proposed license draft, which completed the public consultation process, seeks to allow exchanges to target only professional investors at an early stage. It remains to be seen whether the content of the actual bill differs from the proposed draft when it was put in place.

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