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Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License
The new license allows Huobi to advise on and manage securities investments.
Updated May 9, 2023, 3:16 a.m. Published Mar 4, 2021, 12:02 p.m.
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Cryptocurrency exchange operator Huobi has been granted a license from Hong Kong's Securities and Futures Commission.
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- British Virgin Islands-incorporated Huobi Technology Holdings announced Thursday that its wholly-owned subsidiary, Huobi Asset Management, had received approval to manage portfolios investing in virtual assets.
- Following the news, Huobi is now launching bitcoin, ethereum and multi-strategy funds, according to Chinese blogger Colin Wu.
- The new funds, along with Huobi's sizable ecosystem, could bring more traditional Asian investors into the cryptocurrency space, he said.
- Wu raised as a potential issue that Huobi's "founder cannot leave China and is under investigation."
- Indeed, in January, multiple sources told CoinDesk a key executive was taken into custody by Chinese police due to an investigation related to the exchange’s over-the-counter trading service.
Read more: Huobi Global Connects to European Banking System via UK’s BCB Group
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