HONG KONG, June 24, 2024 /PRNewswire/ -- Recently, Tony Luk, Head of Investment Solutions at Sinohope Asset(a wholly owned subsidiary of Sinohope Technology Holdings Limited), was invited to attend the 19th Asian Investment Summit hosted by AsianInvestor, and gave a speech on the theme "Digital assets – Balancing risk and reward in modern asset allocation strategies" on the spot.
Tony Luk, Head of Investment Solutions at Sinohope Asset at the AsianInvestor Summit
Tony made a global introduction and interpretation of the current regulatory attitude of major countries and regions in the world towards blockchain and virtual assets. Tony shared that the US government has been committed to promoting the accelerated development of Web3 under the regulatory framework, and the US government approved Bitcoin spot ETF in early 2024. It has succeeded in attracting investments from many traditional institutions from Wall Street. This milestone event marks a major step forward for virtual assets, opening up more ways for investors to know about crypto.
Tony said that Hong Kong has been a pioneer in promoting the development of Web3 and virtual assets, from the establishment of The Institute of Web3.0 Hong Kong, the implementation of the "e-HKD" pilot programme, the first test of the VASP (Virtual Asset Service Provider) licensing system, and the approval of the Bitcoin and Ethereum spot ETFs this year. These programmes will greatly enrich the choice of investors and attract more people to participate in the Web3 field. They provide investors with an entirely new way to invest, allowing them to participate in the cryptocurrency market through traditional securities trading platforms without having to hold virtual assets directly.
At the same time, the launch of Hong Kong's virtual asset ETF will attract more international funds to the Hong Kong market, promote the development of Hong Kong's fintech sector, and inject new vitality and momentum into Hong Kong's financial market.
Finally, Tony made a systematic introduction to the current VA (Virtual Asset Services) related licenses in Hong Kong, in which Tony mentioned that Sinohope Asset holds Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses of the Hong Kong Securities and Futures Commission. Approved by the HKSFC on 3 March 2021 to manage a portfolio invested 100% in virtual assets. Sinohope Asset is the first HKSFC licensed VA fund manager that manages active VA fund and accepts both fiat and VA subscription in Hong Kong. Sinohope Asset bridges the gap between virtual assets and traditional finance by offering a regulated, secure and frictionless experience.
About Sinohope Asset
Established in 2019, Sinohope Asset Management (Hong Kong) Limited ("Sinohope Asset") is a wholly-owned subsidiary of Sinohope Tech (1611.HK). It is a leading provider of institutional-level virtual asset management services, which holds a Type 4 (Advising on Securities) and Type 9 (Asset Management) license issued by the Hong Kong Securities and Futures Commission ("HKSFC") and was approved to manage investment portfolios which invest 100% in virtual assets. It is the first HKSFC-licensed virtual asset fund manager to actively manage virtual asset funds and can accept subscriptions in both fiat and virtual assets. Sinohope Asset currently manages seven funds, including a Bitcoin tracker fund, an Ethereum tracker fund, two multi-strategy virtual asset funds, a blockchain venture capital fund, and two private equity funds related to blockchain mining operations. Sinohope Asset's services are only available to professional investors as defined by the Securities and Futures Ordinance and its subsidiary legislation.