Our Man in Shanghai: Huobi looks to become Grayscale of Asia, Yao Ming’s NFT wine, and Chinese crypto investors go to the dogs
Cointelegraph
Published Apr 29, 2021 08:11PM ET
Updated Apr 29, 2021 10:00PM ET
Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space with a product that feels familiar. The fund and asset management company is set up in Hong Kong, even though Huobi maintains several offices within the mainland. Huobi is China’s most established exchange and ranks second on the global liquidity rankings behind Binance.
h3 DOGEmania continues/h3High volumes and volatility continued on the world’s most popular memecoin. On April 28th, searches on WeChat for the Chinese version of ‘Dog-coin’ were up over 65% from the previous day. Shiba, another dog-themed memecoin, was also popular with Chinese exchanges MXC, Gate, Hotbit, LBank and Hoo. These five claimed the top spots for centralized exchanges by volume on April 29th. This suggests that Chinese investors are less attracted to fundamentals and continuing to invest in a more trend-based manner.
h3 Yao Ming takes a shot at NFTs/h3Continue Reading on Coin Telegraph
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Written By: Cointelegraph
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