News

Fore Elite Capital Was Approved to Issue 100% Virtual Asset Funds

Fore Elite Capital Management Limited announced that it has successfully obtained the approval of the Hong Kong Securities and Futures Commission (SFC) on January 18, 2022, which allows Fore Elite to manage and distribute 100% virtual asset funds under the SFC’s “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets” (“T&C”).

It makes Fore Elite the fourth virtual asset management company approved by the Hong Kong SFC. The company is also one of the few approved to issue multi-strategy virtual asset funds in Asia.

In the meantime, the company revealed that it has successfully issued an actively managed virtual asset fund that is designated for professional investors. 

Meanwhile, the company (February 28, 2022) closed 100 million USD seed funding from the Founder and CEO of Fore Elite, Mr. Ejoe Ye, and Huobi Group. Fore Elite plans to open its multi-strategy funds to professional investors.

Looking back, last year has been a defining year for virtual assets such as Bitcoin and Ethereum. The emerging industry, which evolved at an unprecedented rate, steps into the limelight for many institutional investors.

Mr. Ejoe Ye says: “Virtual assets are playing important role in the world economy. Legality and compliance are the irreversible historical direction of the virtual asset sector. After more than two years of communication, we are much honored to be granted the license by the Hong Kong Securities and Futures Commission. In the future, we will continue to actively and closely cooperate with regulatory authority to promote the healthy development of the whole industry.”

About Fore Elite

Fore Elite was established in 2017 by Mr. Ejoe Ye, who graduated from Columbia Business School, with over 12 years’ hedge fund working experience in Wall Street and Hong Kong. The company holds Type 4 (Advising on securities) and Type 9 (Asset Management) licenses of the Hong Kong Securities and Futures Commission. In addition, On January 18, 2022, Fore Elite was approved by the Hong Kong Securities and Futures Commission to manage portfolios that invest in virtual assets under the SFC’s “Proforma Terms and Conditions for Licensed Corporations”.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Victor

Recent Posts

Bybit Proof Of Reserve Shows Changes In BTC, ETH, And USDT

Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…

46 seconds ago

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

50 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

This website uses cookies.