By Staff Writer
According to a report from Bloomberg, Arrano Capital announced the rolling out of a new Bitcoin (BTC) fund within Hong Kong itself. The venture capital firm was quick to point out that it had satisfied the conditions to be a licensed crypto fund under the regulations of the Securities and Futures Commission of Hong Kong or SFC.
Avaneesh Acquilla, the Chief Investment Officer (CIO) of Arrano, said that the beginning would only act as a tracker fund, buying and selling BTC. Regardless of what it is, the firm has set a goal to pass the $100 million mark in terms of digital assets under management, planning to do so within the first year of its operation. Acquilla has expressed hopes of launching a second fund later in 2020, one actively managing the assets with a basket of tokens.