Hong Kong Gets Its First Approved Crypto Hedge Fund

• The first official crypto hedge fund of Hong Kong has been rolled out by Arrano Capital, the blockchain subsidiary of Hong Kong’s asset management platform, Venture Smart Asia Ltd.

 

Hong Kong’s first official crypto hedge fund has been rolled out by Venture Smart Asia Ltd with a target goal of over USD 100 million for the first year. This will provide institutional investors with an officially approved platform to pool capital.

As per the report released on 20 April 2020, Arrano Capital launched the crypto hedge fund on Monday after meeting the regulatory requirements with the Securities and Futures Commission, earlier this month. Avaneesh Acquilla, Chief Investment Officer at Arrano Capital, stated:

“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.”

Acquilla said that there is no definite launch target as of now, however, within the first year, Arrano Capital is aiming to surpass the USD 100 million limit in cumulative assets under its management. The company’s second product will be an actively controlled fund dealing with a basket of digital tokens and is expected to launch later this year.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Hong Kong Gets Its First Approved Crypto Hedge Fund appeared first on BitcoinNews.com.

from BitcoinNews.com RSS Feed
via TOday BItcoin New