HomeNewscoinquora.comHuobi Tech To Launch Crypto ETF In Hong Kong For Retail Traders

Huobi Tech To Launch Crypto ETF In Hong Kong For Retail Traders

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  • Huobi Tech plans to launch a cryptocurrency tracking exchange-traded fund (ETF) for retail investors.
  • The firm has reportedly submitted a proposal to the Securities and Futures Commission (SFC) for its cryptocurrency ETF.
  • Huobi Tech’s plans to launch a cryptocurrency tracking ETF for retail investors follow the recent relaxation on cryptocurrency ETF products for retail investors in Hong Kong.

A public-listed fund manager in Hong Kong, Huobi Tech, has plans to launch a cryptocurrency tracking exchange-traded fund (ETF) for retail investors. Huobi Tech has no relation to the cryptocurrency exchange platform, Huobi Global, and operates independently.

The Hong Kong Stock Exchange-listed company has reportedly submitted a proposal to the Securities and Futures Commission (SFC) for its cryptocurrency ETF. The ETF product will focus on retail investors with assets collectively adding up to less than HK $8 million, equivalent to US $1 million, according to an article by China Morning Post.

Romeo Wang, who is the vice president of the firm, expressed the importance of a regulated Hong Kong cryptocurrency ETF as it would offer better security to investors. Wang also noted that they are actively engaged with the SFC and look to maintain positive communication with them going forward to introduce regulated cryptocurrency ETF products in the market.

Huobi Tech’s plans to launch a cryptocurrency tracking ETF for retail investors follows the recent relaxation on cryptocurrency ETF products for retail investors, which were earlier limited to professional investors only. These are traders with assets adding up to more than US $1 million.

The chief regulatory bodies in Hong Kong released a joint circular in January which offered limited exceptions for retail traders to take part in the cryptocurrency ETF market that currently trades on regulated exchanges located in the United States and the United Kingdom.

The circular also classified digital asset-based products into two categories. These categories were complex and non-complex, with only the non-complex type open to retail traders.



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