Beijing (PingWest)—Huobi Technology Holdings, a Hong Kong-listed firm owned by Huobi exchange's CEO and chairman Li Lin, is set to launch three funds that are 100% invested in digital assets, The Block reported.

Huobi Tech said in an announcement on Thursday that its fully-owned subsidiary Huobi Asset Management has obtained additional regulatory clearing from the Hong Kong Securities and Futures Commission (SFC) to operate 100% digital asset funds.

With the regulatory approval, Huobi Asset Management plans to launch a BTC tracker fund, an ETH tracker fund, and a multi-strategy digital asset fund that is all 100% invested in cryptocurrencies.

The digital currency trading platform Huobi was founded in September 2013 and is one of the largest digital currency exchanges in China. 

China prohibits its citizens from directly exchanging yuan for cryptocurrencies through online sites, and has imposed restrictions on ICO.

This is not the first time a Hong Kong-regulated asset management company has launched a pure cryptocurrency fund. Venture Smart Asia, a Hong Kong-based wealth management company, launched a BTC fund in Hong Kong in April last year through its blockchain investment arm Arrano Capital.

Meanwhile, The Block said that the Hong Kong government will introduce a new bill to the Hong Kong Legislative Council this year, which will place cryptocurrency exchanges under the jurisdiction of the new licensing system.