Huabao Overseas Technology Equity Securities Investment Fund has temporarily suspended subscription and regular fixed investment services

According to a report by Shanghai Securities News, Huabao Overseas Technology Equity Securities Investment Fund (QDII-LOF) has announced the suspension of subscription and regular fixed investment services. The date for resuming these services will be announced separately.

Earlier news reported that according to community user feedback, advertisements for cryptocurrency funds appeared on the homepage of Alipay users in mainland China. Upon verification, it was found to be a product of Huabao Overseas Technology C(QDII-FOF-LOF) fund. This fund invests in ARK Invest's ETF through QDII method, indirectly holding Coinbase stocks and Ark Bitcoin spot ETF with a daily limit of 1000 RMB per person.