Huobi Global to Launch Crypto Funds

by in Cryptocurrency News

Huobi to form crypto funds

The Asian cryptocurrency market has been growing. Seychelles-based cryptocurrency exchange Huobi announced its plans to form cryptocurrency funds like Grayscale.

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No many details are known at the moment. However, as Huobi has a considerable impact on the Asian market, the upcoming funds are supposed to influence Bitcoin and Ethereum prices.

Huobi is a global blockchain asset financial services provider including exchange, trade, wallet, and storage.

Meanwhile, the world's largest digital asset manager GrayScale continues to bring on more news. The company's total AUM reached 39.2 Billion. Recently GrayScale announced invested $ 28.9 M in Litecoin in a month.

Currently, the asset manager supports Bitcoin, Bitcoin Cash, Eth, Ethereum Classic, Horizen, Litecoin, Stellar Lumens, and Zcash.

However, Grayscale intends to add more altcoin trusts. Particularly, it considers offering 23 more altcoins as investment products.

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It remains to wait and see what assets Huobi is going to offer and if it will become popular like Grayscale.