Arrano Capital Introduces Hong Kong to Bitcoin

April 20, 2020 James Heinsman Hedge Fund News

Venture Smart Asia Ltd.’s blockchain division, Arrano Capital, opened Hong Kong’s first, government-approved cryptocurrency fund. The fund will track bitcoin prices and will be fully funded when it reaches $100 million AUM by one year of operation. The fund offers Hong Kong investors the city’s first government-regulated vehicle for betting on Bitcoin.

The Securities and Futures Commission of Hong Kong has previously given licenses to operate crypto asset managers, the opening of the Arrano fund is the first time regulators in Hong Kong gave their seal of approval to such a fund since when they first started considering how to regulate and oversee the cryptocurrency industry about a year ago.

The chief investment officer for Arrano, Avaneesh Acquilla, said that:

“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.”

Arrano Capital, Hong Kong, Venture Smart Asia Ltd,

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