38-Year-Old Exchange Founder Launches Bitcoin, Ether Funds

Green light illuminates server cables in the 5G lab at the Vodafone Kabel Deutschland GmbH campus in Duesseldorf, Germany, on Tuesday, Jan.

Huobi Tech is rolling out four funds including ones that will virtually track Bitcoin and Ether prices, allowing investors to bet on the coins without actually holding any currency.

The offerings also include an active fund investing in a basket of virtual assets, and a private equity fund dedicated to investment in the crypto mining sector.

“Virtual assets have become established as a strong category in alternative investment, and more players will compete in this arena,” Huobi Tech finance chief Zhang Li said during a Zoom interview from Beijing.

The move also come as mainstream financial companies embrace crypto after Bitcoin’s value took off in October.

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