The Hong Kong regulator SFC approved the very first Bitcoin index funds dedicated to institutional investors.
Arrano Capital, the blockchain investment arm of Venture Smart Asia, launched, on Monday, the first cryptocurrency funds regulated at Hong Kong offering the possibility to institutional investors to invest in Bitcoin, report Bloomberg.
Arrano is thus the first entity to obtain the green light from the Securities and Futures Commission (SFC) from Hong Kong for a fund Bitcoin since the implementation of the new regulations in the independent territory located in the south-east of China.
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We decided to launch this fund to meet the market demand of professional investors who are increasingly focusing on Bitcoin as an alternative store of value. Ultimately, for Bitcoin to be widely accepted and for people to trust it, there has to be a regulation, ”Commented Avaneesh Acquilla, chief investment officer at Arrano.
The venture capital company wants to raise more than $ 100 million for its new crypto-fund and plans to launch later this year a second fund backed this time to a basket of cryptocurrencies.
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