Huobi Asset Management Raises $50M for Crypto ‘Tracker’ Funds
The four funds will buy bitcoin, ether and equity in crypto or mining firms.
Huobi Asset Management, a subsidiary of Hong Kong-listed Huobi Tech, has launched four crypto funds, providing traditional asset managers with new ways to invest in bitcoin ethereum and the booming crypto mining businesses.
The new offerings include a private equity fund in the global crypto mining businesses, an actively-managed crypto fund and two funds which will invest directly in bitcoin and ethereum.
The funds are open to institutional investors such as family offices, asset managers and high-net-worth individuals.
Huobi Tech is the latest to attract asset allocators from the traditional financial services industry in Hong Kong. In September 2019, the city’s financial watchdog, the Securities and Futures Commission (SFC), put forward a clear regulatory framework for crypto assets and started doling out virtual asset licenses to crypto trading platforms, custodians and crypto fund managers.