Cryptocurrency exchange operator Huobi has been granted a license from Hong Kong's Securities and Futures Commission.

  • British Virgin Islands-incorporated Huobi Technology Holdings announced Thursday that its wholly-owned subsidiary, Huobi Asset Management, had received approval to manage portfolios investing in virtual assets.
  • Following the news, Huobi is now launching bitcoin, ethereum and multi-strategy funds, according to Chinese blogger Colin Wu.
  • The new funds, along with Huobi's sizable ecosystem, could bring more traditional Asian investors into the cryptocurrency space, he said.
  • Wu raised as a potential issue that Huobi's "founder cannot leave China and is under investigation."
  • Indeed, in January, multiple sources told CoinDesk a key executive was taken into custody by Chinese police due to an investigation related to the exchange’s over-the-counter trading service.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC