Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License

The new license allows Huobi to advise on and manage securities investments.

AccessTimeIconMar 4, 2021 at 12:02 p.m. UTC
Updated May 9, 2023 at 3:16 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.
  • Huobi Denies Reports of Executive Arrests as Stablecoin Reserves Sink
    05:54
    Huobi Denies Reports of Executive Arrests as Stablecoin Reserves Sink
  • Justin Sun on Hong Kong Outlook, State of Crypto Regulation
    16:58
    Justin Sun on Hong Kong Outlook, State of Crypto Regulation
  • Ledger Reveals Institutional-Grade Trading Network
    05:31
    Ledger Reveals Institutional-Grade Trading Network
  • Justin Sun Weighs in on Hong Kong's Crypto Plans, Huobi Expansion
    14:44
    Justin Sun Weighs in on Hong Kong's Crypto Plans, Huobi Expansion
  • Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.