Huobi to launch three cryptocurrency funds in Hong Kong

Huobi, through its Hong Kong-registered subsidiary Huobi Technology Holdings, plans to launch three cryptocurrency funds. This was reported by journalist Colin Wu.

Breaking: China’s largest exchange Huobi has obtained a Hong Kong cryptocurrency fund license, and it will launch Bitcoin, Ethereum and multi-strategy funds on March 3. Similar to the Grayscale, this move by Huobi may promote traditional Asian investors to cryptocurrency field. pic.twitter.com/IIrhZVKiGQ

— Wu Blockchain (@WuBlockchain) March 4, 2021

Huobi Technology Holdings has received the appropriate approval from the Hong Kong Securities and Futures Commission. It is anticipated that the first two funds will be based on Bitcoin and Ethereum, with the third based on a basket of multiple digital assets.

Clients will be able to invest in the new vehicles using fiat currencies and crypto assets.

Similar to DCG, Huobi has a large ecosystem to help Asian investors, which will boost the prices of Bitcoin and Ethereum. The trouble with Huobi may be that its founder cannot leave China and is under investigation.

— Wu Blockchain (@WuBlockchain) March 4, 2021

“Huobi has a powerful ecosystem intended to assist Asian investors. It will lift the prices of Bitcoin and Ethereum. The potential issue for Huobi is that its founder cannot leave China, as he is under investigation,” Wu added.

ForkLog has sent a press inquiry, but as of writing had not received a response.

Earlier Huobi received a trust company licence in the United States.

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