The development allows the city to emerge as a top destination for asset managers looking to launch cryptocurrency-themed funds for professional investors.
See related article: More traditional investors are eyeing cryptocurrency to diversify their portfolios
Fast facts
- The Securities and Futures Commission (SFC)-licensed blockchain and virtual assets manager can manage portfolios that may comprise up to 100% of virtual assets.
- HK-listed Wealthking Investment joins the manager as a new investor, bringing expertise in traditional finance.
- MaiCapital to expand offering of virtual asset fund products and regulated crypto services to global investors.
- Plans to grow institutional business to over US$200 million in AUM.
- Since securing SFC licenses to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities in 2018, MaiCapital has been operating two actively managed blockchain-themed hedge funds.
- These have achieved more than 20 times growth in total AUM since 2019 through proprietary trading.
- Blockchain Opportunity Fund, MaiCapital’s virtual asset-themed hedge fund’s return in 2021 ranked amongst the top three hedge funds across all of Asia, according to Preqin.
- MaiCapital only partners with regulated exchanges and custodians such as Coinbase and OSL.
See related article: A portfolio balanced by digital assets