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Huobi Asset Management is set to launch a bitcoin (BTC) tracker fund, an Ether (ETH) tracker fund, and a multi-strategy digital asset fund, after successfully gaining the approval of the Hong Kong Securities and Futures Commission (SFC), according to reports on March 4, 2021.<\/strong><\/p>\n With the global cryptocurrency markets now at a massive $1.45 trillion market capitalization, Huobi Technology Holdings, a fully-owned subsidiary of Huobi cryptocurrency exchange, is aiming to make the most of the crypto boom by launching new digital asset funds.<\/span><\/p>\n Per <\/span>sources<\/span> close to the matter, Huobi Technology Holdings, which is listed on the Hong Kong stock exchange, says it\u2019s looking to launch a bitcoin price tracker fund, an ether tracker fund and a multi-strategy digital asset fund. The three investment vehicles will be 100 percent invested in cryptocurrencies.<\/span><\/p>\n What\u2019s more, the firm has hinted that it also aims to introduce a multi-asset fund that will consist of 10 percent digital assets and 90 percent equity and fixed income investments, with both funds accepting fiat and crypto subscriptions.<\/span><\/p>\n At the time of filing this report, the entire details of the proposed fund are yet to be released and the firm has stated categorically that it\u2019s still holding talks with the relevant stakeholders. Commenting on the project, Mandy Liu, vice president of Investor Relations at Huobi Tech said:<\/span><\/p>\n \u201cThe size of the funds is under discussion and depends on the development of distribution channels. We aim to become the leading virtual asset management company in Asia in the near future.\u201d<\/strong><\/p>\n<\/blockquote>\n As <\/span>reported<\/span> by <\/span>BTCManager <\/span><\/i>last August, Huobi Asset Management obtained two important licenses: a Type 4 (advising on securities) and a Type 9 (asset management) from the SFC. However, the country\u2019s existing laws still required the firm to seek formal approval from regulators before rolling out a full-fledged crypto fund.<\/span><\/p>\nHuobi Rolling Out Fresh Crypto Funds<\/strong><\/h2>\n
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Crypto Funds Gaining Popularity\u00a0<\/strong><\/h2>\n