Huobi Tech Will Create A Crypto Tracking ETF For Retail Traders In Hong Kong
Huobi Tech, a Hong Kong-based public fund manager, intends to create a cryptocurrency-tracking exchange-traded fund (ETF) for retail investors.
The company, which is listed on the Hong Kong Stock Exchange, is said to have submitted a proposal to the Securities and Futures Commission (SFC) for a crypto ETF. According to the South China Morning Post, the new ETF product will target ordinary investors with assets of less than HK$8 million (US$1 million).
Romeo Wang, the business’s vice president, stated that a Hong Kong-regulated crypto ETF will provide investors with greater protection. He also stated that the firm is actively involved with the SFC and hopes to maintain positive contact in order to offer regulated crypto ETF products in the market.
Huobi Tech is relying on the recent lifting of restrictions on crypto ETFs for regular investors
Huobi Techpreviously only available to professional investors. In January, Hong Kong’s top regulatory organizations issued a joint circular allowing retail traders to participate in the crypto ETF market, which is traded on licensed exchanges in the United States and the United Kingdom.
The circular divided virtual asset-based products into two categories: complex and non-complex, with only the latter being available to retail traders.
With a few exceptions, Hong Kong has enacted severe regulations limiting crypto trading for professionals. Professional traders with holdings of above $1 million are allowed to trade virtual assets through regulated offerings.
Huobi Tech, formerly Pantronics Holdings, has switched its concentration away from electronic products and into the digital asset sector. Despite sharing a same name with the prominent cryptocurrency exchange Huobi Global, the Hong Kong-based publicly traded corporation operates independently.
Huobi Technology is a fund manager with a focus on the virtual currency market. The company started a crypto over the counter (OTC) desk in the first week of March, prior to its current proposal for a retail crypto ETF.
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.
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Huobi Tech Will Create A Crypto Tracking ETF For Retail Traders In Hong Kong
Huobi Tech, a Hong Kong-based public fund manager, intends to create a cryptocurrency-tracking exchange-traded fund (ETF) for retail investors.
The company, which is listed on the Hong Kong Stock Exchange, is said to have submitted a proposal to the Securities and Futures Commission (SFC) for a crypto ETF. According to the South China Morning Post, the new ETF product will target ordinary investors with assets of less than HK$8 million (US$1 million).
Romeo Wang, the business’s vice president, stated that a Hong Kong-regulated crypto ETF will provide investors with greater protection. He also stated that the firm is actively involved with the SFC and hopes to maintain positive contact in order to offer regulated crypto ETF products in the market.
Huobi Tech is relying on the recent lifting of restrictions on crypto ETFs for regular investors
Huobi Techpreviously only available to professional investors. In January, Hong Kong’s top regulatory organizations issued a joint circular allowing retail traders to participate in the crypto ETF market, which is traded on licensed exchanges in the United States and the United Kingdom.
The circular divided virtual asset-based products into two categories: complex and non-complex, with only the latter being available to retail traders.
With a few exceptions, Hong Kong has enacted severe regulations limiting crypto trading for professionals. Professional traders with holdings of above $1 million are allowed to trade virtual assets through regulated offerings.
Huobi Tech, formerly Pantronics Holdings, has switched its concentration away from electronic products and into the digital asset sector. Despite sharing a same name with the prominent cryptocurrency exchange Huobi Global, the Hong Kong-based publicly traded corporation operates independently.
Huobi Technology is a fund manager with a focus on the virtual currency market. The company started a crypto over the counter (OTC) desk in the first week of March, prior to its current proposal for a retail crypto ETF.
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
Annie
CoinCu News
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