Hong Kong Securities Regulatory Commission approves Huobi Asset Management to invest in virtual asset portfolios

Huobi Technology (01611.HK) announced that the Securities and Futures Commission has granted a license to Huobi Asset Management (Hong Kong) Co., Ltd. (Huobi Asset Management), a wholly-owned subsidiary of the company, to carry out Type 4 (providing advice on securities) and Type 9 (providing asset management) regulated activities as defined in Schedule 5 to the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong. The Hong Kong Securities Regulatory Commission has approved Huobi Asset Management to manage investment portfolios invested in virtual assets and continue to carry out the above-mentioned Type 4 and Type 9 regulated activities, effective March 3, 2021.

In addition, the announcement stated that its wholly-owned asset management subsidiary Huobi Asset Management (Hong Kong) Co., Ltd. (hereinafter referred to as "Huobi Asset Management") has been approved by the Hong Kong Securities and Futures Commission (ie, the Hong Kong SFC) to apply for Huobi Asset Management to issue funds with 100% virtual assets. Huobi Asset Management will issue three virtual asset funds, namely Bitcoin Tracking Fund, Ethereum Tracking Fund and Multi-Strategy Virtual Fund.