30 August 2026
Hong Kong Gets First Government Approved Crypto Funds
Arrano Capital is the blockchain arm of Venture Smart Asia which has announced that it has met the regulatory requirements in Hong Kong to launch the first approved crypto fund with a target of $100 million.
As per the report of Bloomberg, a blockchain arm of Venture Smart Asia, Arrano Capital, is going to launch a new Bitcoin fund in Hong Kong. The Securities and Futures Commission (SFC) gave the permission and license to Arrano Capital for crypto funds and it is the first company in Hong Kong to receive an approval. For the first year, the target of venture capital firms will be $100 million.
Arrano's first attempt is only a tracker fund, buying and selling BTC as said by Avaneesh Acquilla the Chief Investment Officer. In the first year, the goal is to pass $100 million in digital assets. The CIO further stated that the firm could launch a second actively managed fund dealing with a basket of tokens in late 2020.
Avaneesh Acquilla added,
“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.”
Back in October 2018, SFC had announced regulating crypto exchanges for cryptocurrency trading prices and as a result, the commission has issued very few approvals. The first company that received permission from SFC was Diginex and Arrano Capital is the first approved crypto fund in Hong Kong.
Discussion
0 comments