Arrano Capital

History

2020: Official approval for work in Hong Kong

In the middle of April, 2020 the finance regulator of Hong Kong approved the first-ever index cryptocurrency fund intended for institutional investors.

The Securities Commission and to futures of Hong Kong (SFC) and granted earlier licenses the managing director of cryptocurrency assets. But from coming into force of new requirements in 2019 Arrano Capital, division of Venture Smart Asia venture capital company, became the first company which got approval on management of the fund focused on cryptocurrencies and professional investors.

In Hong Kong the first cryptocurrency investment fund is approved

The index fund is a type of mutual fund which allows to trace index components of financial market. Within the first 12 months of Arrano hopes to collect $100 million due to tracking of the prices for bitcoins. Further strategy is going to be complicated.

Having got permission of the regulator, Arrano Capital laid a way to similar funds for submission of requests for licenses in area, friendly to a blockchain. As the director of Arrano Capital investments Avanish Akila (Avaneesh Acquilla) told though so far the firm got approval only for creation bitcoin fund, the company is going to be engaged in the future and in other products.

We decided to start this fund to conform to market demands. Professional investors are interested in bitcoin as alternative means of storage of the means more and more. Certainly, the bitcoin will become the entrusted and widespread means for storage of accumulated funds therefore we need strict regulation, – emphasized Akila.

According to Bloomberg, the Arrano Capital company to the middle of April, 2020 prepares for opening of the second fund with focus on a basket of digital assets.^[1]

{{Subject Blockchain and cryptocurrency] }

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