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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.
Cryptocurrency exchange operator Huobi has been granted a license from Hong Kong's Securities and Futures Commission.
STORY CONTINUES BELOW
- 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
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
