According to Matt Long, the Asia-Pacific general manager of digital asset broker FalconX, Hong Kong's regulatory authorities have been actively and strongly formulating and launching policies to clarify regulatory policies and promote positive development of the local virtual asset market. The Bitcoin spot ETF has only been launched for two months and already holds 3% of the total supply of Bitcoin. It is believed that the holding volume will continue to rise, and Hong Kong will have the opportunity to issue related asset ETFs in the long run. With clearer regulatory policies being gradually implemented in Hong Kong and even Europe in the coming months, it will lay the foundation for the future growth of the virtual asset market.