Huobi allegedly launched bitcoin and ether funds

Cryptocurrency exchange operator Huobi has been granted a license from Hong Kongs Securities and Futures Commission.

• British Virgin Islands-incorporated Huobi Technology Holdings announced Thursday that its wholly-owned subsidiary, Huobi Asset Management, had received approval to manage portfolios investing in virtual assets.

• Following the news, Huobi is now launching bitcoin, ethereum and multi-strategy funds, according to Chinese blogger Colin Wu.

• The new funds, along with Huobis sizable ecosystem, could bring more traditional Asian investors into the cryptocurrency space, he said.

• Wu raised as a potential issue that Huobis “founder cannot leave China and is under investigation.”

• Indeed, in January, multiple sources told CoinDesk a key executive was taken into custody by Chinese police due to an investigation related to the exchanges over-the-counter trading service.