Arrano Capital, a division of venture capital firm Venture Smart Asia, reported that the cryptocurrency Fund launched by the company in Hong Kong has been audited by a local regulator and plans to raise $100 million.
According to avaneesh Acquilla, Director of investment at Arrano Capital, the Fund will act simply at the initial stages – track the price of bitcoin and sell or buy the first cryptocurrency at the appropriate moments. In the future, the strategy will become more complex.
“We decided to launch this Fund to meet the requirements of the market. Professional investors are increasingly interested in bitcoin as an alternative means of storing wealth. Of course, bitcoin will become a large, trusted and widely accepted means for storing wealth. Therefore, it needs regulation, ” akila stressed.
It was recently reported that Grayscale Capital’s cryptocurrency trusts raised $503.7 million for the first quarter of 2020. This is a record figure for the entire existence of the funds.