Huobi Plans to Become a Second Grayscale for Asian users
Breaking news from the Chinese reporter Wu Blockchain! Chinese crypto giant Huobi expands the list of their services for Asian users. As Asian market grows, Huobi prepares a crypto fund option similar to Grayscale but specifically for Asian residents. Reporter says Huobi already obtained a Hong Kong license, and it will provide BTC, ETH and multi-strategy funds. This move by Huobi is meant to attract Asian investors to a crypto market.
Huobi is dominating the Asian crypto market, and its new fund may have a great impact over the prices for BTC and ETH. However, there’s still an investigation going on against its founder, JunDu, due to the misuse of the investors’ funds. Huobi Global claims that the accusations are false.
Recently, Chinese investors are being bearish compared to the American ones that created a much bigger liquidity. New crypto funds may involve more of them into the field, and it will be good for the development of Asian market.