New Chinese Investment Fund Launches To Entice Asian Institutions Into Crypto

Huobi Asset Management Launches one of Asia’s Largest Virtual Asset Funds as announced on South China Morning Post.

Huobi (Hong Kong) is a wholly-owned subsidiary of Huobi Technology Holdings Limited and is one of the largest virtual asset funds in Asia, looking to meet the growing demand for cypto based investments. Huobi leads the way in the movement of intitutional adoption into cryptocurrency for the Asian market.

Following Grayscale (US), Huobi Asset Management is aimed at professional investors, offering them a virtual assets portfolio. Huobi Asset Management’s new crypto-based funds include a BTC tracker fund, ETH tracker fund, and a multi-strategy virtual asset fund.

Huobi is the second fund manager to receive approval from the Securities and Futures Commission to issue 100% virtual asset funds. Head of Huobi Asset Management, Gillian Wu, explains how the fund could be ideal for the new type of investor, looking to enter the cryptocurrency market.

“According to the professional investors’ knowledge level and risk appetite of virtual assets, we will advise our clients to choose the fund products that best suit their needs. For institutional, especially corporate clients, they want to allocate to virtual assets through a convenient and compliant channel to achieve diversification needs. 

Our Bitcoin and Ethereum tracker fund, in the way of traditional financial products, solves the worries of clients who have to research on their own how to custody, how to account, how to audit this novel asset class and whether there are tax uncertainties, etc. At the same time, some ultra-high net worth individual clients, as well as some large virtual asset miners, who have previously been passively holding their virtual assets, started to look for options to achieve better returns through different market cycles compared to simple passive allocation, thus our active multi-strategy virtual asset fund is born.” 

Gillian Wu

The first pioneers to shine a light on investing in cryptocurrencies were individual retailers. As Bitcoin and Ethereum become more well known and widely adopted, it is only natural that major institutions turn their attention to the crypto space and adapt to follow the trend.

Huobi will offer piece of mind to serious investors, as demand grows for those looking to invest millions. Huobi’s new fund will likely enjoy the success of Grayscale’s Bitcoin Trust, which has been very well received.

Institutions Going Pro Crypto?

Below is a table of the recent cryptocurrency purchases by Institutions.