Odaily News The official website of the Hong Kong Securities and Futures Commission published the speech delivered by Cai Fengyi at the listing ceremony of the first batch of Bitcoin and Ethereum spot ETFs, in which she pointed out that the Hong Kong Securities and Futures Commission has also formulated a more comprehensive regulatory framework than other regions. In the operation of approved ETF products, every link in the entire virtual asset ecosystem (including fund companies, custodian banks, asset trading platforms, participating securities firms, etc.) are required to be licensed or approved institutions by the Hong Kong Securities and Futures Commission, and must strictly abide by the requirements of asset custody, liquidity, valuation, information disclosure, investor education and other aspects of approved public investment products.