Huobi affiliate launches Bitcoin, crypto mining fund

Huobi affiliate launches Bitcoin, crypto mining fund

Huobi Asset Management, an affiliate of leading crypto exchange, Huobi, has just launched four asset funds for institutional investors in Hong Kong.

The affiliate is one of the leading Bitcoin companies in China seeking to lure deep-pocketed investors by taking advantage of the alluring and favorable crypto laws in Singapore and Hong Kong. Leveraging the crypto exchange giant, Huobi Asset Management aims to be the leader in virtual asset management for traditional and institutional investors.

According to a statement shared by the company, two of the asset fund vehicles will mirror the value of Ethereum and Bitcoin. The other is an actively managed asset fund that will invest in a bunch of virtual assets in an attempt to gain profits.

The last investment vehicle, according to the statement, will specifically fund Bitcoin mining operations in and out of the country.

Less than a month after integrating Kava, Huobi with a 24-hour transaction volume of $13 billion (at the time of publication) is presently the world's largest crypto exchange, behind Binance.

With Hong Kong about to ban crypto transactions as reported by BTC Peers, this may halt Huobi’s plan to take digital assets to another level with the launch of these investment vehicles.

Read more