Hong Kong sees its 1st officially approved crypto fund, a BTC tracking fund with $100M target for year 1

posted 7 months ago
Venture Smart Asia is Hong Kong’s first approved cryptocurrency fund, its target is $100 million under management for the first year. The new Bitcoin (BTC) fund in Hong Kong is only a tracker fund, for buying and selling BTC.

Arrano Chief Investment Officer (CIO) Avaneesh Acquilla said “We decided to launch this fund to address market demand from professional investors who are increasingly focused on Bitcoin as an alternative store of value. Ultimately for Bitcoin to be widely accepted and for people to trust it, there needs to be regulation.” Venture Smart Asia’s application makes it the first official crypto fund in the special economic region, allowing average investors a window into BTC.
Tags: bitcoin, news