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Hong Kong’s First Approved Crypto Fund Is Targeting $100 Million

  • Arrano is the first to clear licensing hurdles with the SFC
  • Passive fund targets institutions investing in digital money
server crypto computer
Photographer: Andrey Rudakov/Bloomberg

Venture Smart Asia Ltd. has launched Hong Kong’s first approved cryptocurrency fund with a target first-year size of $100 million, offering an officially sanctioned window for institutional investors in Bitcoin.

Arrano Capital, the Hong Kong asset manager’s blockchain arm, announced Monday the rollout of its Bitcoin fund, after clearing licensing conditions to let it deal in virtual assets with the Securities and Futures Commission this month. It’s the first such fund approval since local regulators started to look into ways to exert oversight over the crypto industry about a year ago. The SFC has previously granted licenses to crypto asset managers like Hong Kong’s Diginex, but those haven’t met the full criteria to run pure crypto funds that can be marketed to professional investors only.