LONDON, April 22, 2021 / PRNewswire / – Huobi Asset Management (Hong Kong) Limited (Huobi Asset Management), a wholly-owned subsidiary of Huobi Technology Holdings Limited (Huobi Tech, stock code: 1611), today announced the launch of four crypto-related funds for institutional investors. The new offerings include three virtual asset funds and a private equity fund for companies related to blockchain mining.
On March 3, 2021, Huobi Asset Management obtained SFC approval to manage and distribute funds invested 100% in digital assets, making Huobi the second virtual asset fund manager to be licensed in Hong Kong. . Since its approval, Huobi Asset Management has already received $ 50 million in commitments across the four funds and is targeting $ 100 million by the third quarter of 2021.
Huobi Asset Management’s new crypto-focused funds include a BTC tracking fund, ETH tracking fund, and multi-strategy virtual asset fund, all of which are 100% invested in virtual assets. The multi-strategy fund is an actively managed fund that invests in a basket of diversified cryptocurrencies, offering investors the potential for higher returns than the passive allocation. ETH Tracking Fund and Multi-Strategy Fund are the first such virtual investment products to be issued by a licensed fund manager in Hong Kong.
Huobi Asset Management offers professional investors the ability to create virtual asset ownership in a safe, reliable and convenient way through traditional fund products, raising concerns in the area of accounting treatments, tax implications and interpretations audit that investors would otherwise face when directly purchasing virtual assets, “said Gillian Wu, CEO of Huobi Asset Management.” The funds launched are intended to cater to types of investors with different risk appetites , we are confident about future growth “
In addition to the three virtual asset funds, Huobi Asset Management also offers a private equity fund that will invest in companies related to crypto-mining, a market segment that has grown exponentially in recent years. As institutional investors, retail investors and businesses continue to adopt virtual assets, Huobi will leverage its expertise to identify and invest in companies in the virtual asset extraction ecosystem, including hardware manufacturers. or mining pools. The private equity fund is aimed at investors seeking relatively stable returns through the operational management of portfolio companies in the mining space.
Huobi Asset Management funds are open to qualified institutional investors as defined by the Securities and Futures Ordinance and the Securities and Futures (Professional Investors) Rules of the SFC. As a licensed asset manager, Huobi is the first to accept fiat currencies or virtual assets as an underwriting choice. Current investors in the new funds include high net worth individuals, mutual funds, corporate treasuries, family offices and other traditional asset managers looking to increase their exposure to blockchain and digital assets in as part of a diversified investment strategy.
The launch of the new funds comes as digital assets like BTC and ETH hit record highs amid growing institutional adoption. With digital assets becoming an increasingly important asset class, Huobi Asset Management aims to meet the needs of institutional investors who require investment products under the regulatory oversight of a trusted brand. The funds will be managed by a senior investment team with decades of combined asset management experience within global financial institutions, with investment expertise built on both traditional and virtual asset classes.
“I am pleased to see that Huobi Asset Management’s funds are launched quickly and efficiently. In addition, Huobi Technology’s virtual asset custody business is growing at a steady pace,” said Zhang Li, CFO of Huobi Technology. . “We aim to be the leading provider of comprehensive virtual asset services in Asia, and will continue our efforts to ensure regulatory compliance in the virtual asset industry.”
About Huobi Technology Holdings Limited
Huobi Technology Holdings Limited (“Huobi Tech”) was listed on the Main Board of the Hong Kong Stock Exchange in November 2016 (stock code: 1611). Mainly engaged in OEM and EMS manufacturing of electrical and electronic products, Huobi Tech is also expanding its business to technology solutions with a focus on blockchain applications.
Huobi Tech applies for digital asset licenses and financing in major markets around the world, incubating and developing new businesses. So far, the company has already successfully obtained SFC approval to conduct type 4 (securities advisory) and type 9 (asset management) regulated activities, trust service provider license or corporate and trust company license (Nevada USA).
SOURCE Huobi Technology