Huobi Launches Four Crypto Funds, Targeting $100 Mln in Total Assets

Cryptocurrency exchange Huobi has launched four crypto-related funds that will virtual track Bitcoin (BTC) and Ether (ETH) prices.

It also includes an active fund investing in a basket of virtual assets and a private equity fund dedicated to investment into the crypto sector.

The firm has already secured $50 million in commitments across the four funds and targets $100 million in total assets by September.

Huobi Technology Holdings Ltd. obtained a license from the Securities and Futures Commission of Hong Kong to manage and distribute funds invested solely in crypto.

“Virtual assets have become established as a strong category in alternative investment, and more players will compete in this arena,” Huobi Tech finance chief Zhang Li said during a Zoom interview from Beijing.

“For professional investors who still have concerns about things like security and tax filing, they will opt to buy our funds rather than holding coins themselves.”

Huobi founder Leon Li aims to provide a full suite of crypto-related services, including custody.

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