Huboi Tech to launch new crypto ETF tracker for Hong Kong retailers

Huboi Tech, a Hong Kong-based publicly listed fund management company, is preparing to introduce a crypto coin tracking exchange-traded fund (ETF) for Hong Kong-based retail investors. This company, which is already listed on the Hong Kong Stock Exchange, has presented a proposal for its crypto ETF to the Securities and Futures Commission (SFC).

This new ETF product will target retail investors as their target audience and those who have assets worth less than HK$8 million (US1 million dollars), as reported by the South China Morning Post. Romeo Wang, the vice president of the Huboi Tech, has stated that the Hong Kong-regulated crypto ETF will be able to offer the retail investors better security and they will actively be involved with the SFC. Active communication with the SFC will be important to engage in a positive relationship with the agency and to offer modulated crypto ETF products in the market.

The recent relaxation offered on crypto ETF products that were previously and exclusively available to professional investors has given Huboi Tech the opportunity to help retail investors in the market. At the beginning of the year, the Hong Kong chief regulatory body had posted a joint circular that had given limited exceptions to the retail investors to take part in the crypto ETF. Furthermore, the circular had categorized the digital assets into two categories: non-complex and complex. Retail investors are allowed to deal with non-complex virtual asset-based products.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img

You might also like...