Venture Smart Asia Launches Hong Kong’s First Approved Crypto Fund, Targeting $100M


Venture Smart Asia has become the first regulatory approved crypto fund of Hong Kong who is targeting a $100 million assets under its management by the end of this year. Hong Kong has been known for its strict regulatory stance towards the crypto space, and with this approved fund it would make it easier for the institutional investors in the country to make an investment in Bitcoin.

As per a report published in Bloomberg, the announcement of the crypto fund was made by Arrano Capital, the blockchain arm of Venture Smart Asia. The announcement noted that they have rolled out a Bitcoin fund after being cleared by the Securities and Futures Commission (SFC) to deal in virtual assets.

The Hong Kong SFC has been looking into several applications filed before them for crypto-related funds for over a year now. The SFC has also granted a couple of licences to crypto asset management firm like Diginex, however, none of them have met the full criteria of running a pure crypto fund as it has been granted to Venture Smart Asia. The operating license and regulatory clearance are believed to boost the interest of the investors towards such investment vehicles as it offers a sense of security.

Venture Smart Asia Targets $100 Million Under its Management By Year-End

While there is no official target figure mentioned at the time of launch, Arrano Capital is planning to manage at least $100 million worth of digital assets within the first year. The firm is also planning to launch a second investment vehicle by the end of this year, which will be another investment fund dealing with multiple digital assets. Avaneesh Acquilla, the chief investment officer at Arrano said,

“We decided to launch this fund to address market demand from professional investors who are increasingly focused on Bitcoin as an alternative store of value. Ultimately for Bitcoin to be widely accepted and for people to trust it, there needs to be regulation.”

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