MaiCapital, a licensed virtual assets manager, announced that it has secured approval from the Securities and Futures Commission of Hong Kong (SFC) to manage portfolios that may comprise up to 100% of virtual assets.

The latest approval from the SFC will allow MaiCapital to deploy its investment strategies in the cryptocurrency markets with greater flexibility and to significantly augment its offering to investors.

MaiCapital has a virtual asset-themed fund named Blockchain Opportunity Fund for more than 3 years now. The company’s second fund, the Bitcoin+ Fund, employs quantitative strategies seeking to track and outperform, Bitcoin in various market conditions.

Both funds only accept investments from institutions or qualified professional investors.

The company added that Wealthking Investment has joined MaiCapital as a new investor and shareholder though details were not specified.

Wealthking brings a wealth of expertise and support from the world of traditional finance to this pioneering crypto native financial institution.

With the approval from the SFC and support from Wealthking, MaiCapital intends to further expand its offering of virtual asset fund products and regulated crypto services to investors worldwide.

Additionally, MaiCapital aims to grow its institutional business to a combined AUM of over US$200 million.

Benedict Ho, CEO of MaiCapital said,

“MaiCapital has always prided itself in its ability to invest in the nascent cryptocurrency asset class with the highest compliance standards and an unyielding focus to protect the interests of investors.”

Liu Zhiwei, Chairman of Wealthking said,

“With the extended approval from SFC, MaiCapital is on an even greater trajectory to bring more innovative investment products and services to professional and institutional investors.
Wealthking firmly believes in the development potential of blockchain technology plus digital economy and has invested heavily in these areas for the past few years. The next step will be to optimally utilise our strengths to help MaiCapital reach greater heights.”