Huobi Asset Management Raises $50M for Crypto ‘Tracker’ Funds
The four funds will buy bitcoin, ether and equity in crypto or mining firms.
The project is led by a former Huobi executive and includes the participation of investors including Multicoin Capital and Polychain Capital.
The exchange made the move on the heels of a series of crackdown notices from Bejing in recent weeks.
The move comes as officials in mainland China have upped the pressure on crypto mining and trading.
Huobi Ventures will consolidate the firm's investment strategy.
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