Arrano’s bitcoin fund, approved by Hong Kong’s SFC, will launch mid-May

Lau: All right. Well, two years in the making, and what do you have to tell us?

Acquilla: Yeah, it’s been a long journey, and we’re glad to finally get to the achievement of being the first approved virtual asset manager in Hong Kong. I’m really excited to launch the first fund.

Lau: Ok, so what does that mean exactly? To have had SFC approval to become a digital asset manager? There’s some designations there that already exist, but this one is a little bit more specific.

Acquilla: Exactly, there’s a licensing condition. So an asset manager that we would all be familiar with is a type 9 manager. Those type 9 managers would be able to invest up to 10% of their assets in virtual assets. As a designated approved virtual asset manager, we’re able to have portfolios that invest up to 100% in those virtual assets. And what it means is we have a type 9 license like everybody else, but we also meet the SFC’s licensing condition, which is set out in a document called the…