Hong Kong-based Huobi Asset Management has launched four cryptocurrency funds aimed at institutional investors.
The funds include an actively managed multi-asset fund which will allocate 10% to virtual assets, a private equity fund focused on crypto mining firms and two passive funds invested in bitcoin and ethereum.
The fund manager is a subsidiary of Hong Kong-listed Huobi Tech, an electronics conglomerate formerly known as Patronics which also owns crypto trading platform Huobi Global.
The fund launches follow Huobi’s receipt of a virtual asset licence from the Securities and Futures commission (SFC) in March.
The SFC set out a crypto trading framework back in October 2019 and has since issued a number of virtual asset licences to exchanges, custodians and trading platforms.
According to Huobi, it is the first firm to be approved for an actively managed virtual asset fund. “So far, there are still very few regulated virtual fund managers globally,” said Gillian Wu, chief executive of Huobi Asset Management. "The funds launched are intended to cater to type of investors with different risk appetite and we are confident about future growth," she added.
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