Hong Kong venture capital Yibo Finance launches the first approved bitcoin ETF fund for qualified professional investors, plans to raise US $ 100 million

According to a Bloomberg report, Arrano Capital, a Hong Kong-based venture capital firm Venture Smart Asia, launched the first approved cryptocurrency fund in Hong Kong and sought to raise approximately US $ 100 million in the first year . Venture Smart Asia stated that the crypto fund is a bitcoin fund that has met the licensing requirements of the Hong Kong Securities and Futures Commission (SFC) for cryptocurrency funds. Arrano Chief Investment Officer Avaneesh Acquilla said, “The first fund is the Bitcoin Tracker Fund (Tracker Fund), and plans to launch a second fund that can invest in a basket of cryptocurrencies by the end of this year.” Lianwen found that the fund was approved on April 3 this year and received the “proforma set of terms and conditions on the supervision of licensed enterprises investing in virtual assets” issued by the Hong Kong Securities Association in October last year. ) “Related regulations. According to the document, regulated virtual asset managers may have plans to invest in virtual assets, or intend to invest 10% of the assets in the portfolio in virtual assets. Ben El-Baz, chief strategy officer of Hashkey Capital, told Lianwen that the fund is restricted to professional investors and that virtual asset investment cannot exceed 10% of the entire fund’s investment portfolio. According to the news, the tracking fund is a mutual fund that provides the same return as the index. The Tracker Fund of Hong Kong is the first exchange-traded fund (ETF) launched on the Hong Kong Stock Exchange.