ChainCatcher news, virtual asset management company Pando Finance has announced that its existing Type 1 (securities trading) and Type 4 (advising on securities) regulated businesses have been approved for upgrade by the Hong Kong Securities and Futures Commission.From now on, Pando can provide distribution and investment advisory services to funds with more than 10% investment in virtual assets.

ChainCatcher news, according to Decenter, approximately $600 million flowed out of virtual asset funds last week, marking the highest weekly outflow since March.Experts analyze that the lack of interest from institutional investors in virtual assets has led to the outflow of funds.

ChainCatcher news, according to Media OutReach Newswire, Victory Securities has signed a memorandum of understanding with the virtual asset ecosystem organization Virtual Seed Global. The two parties have a high degree of complementarity in compliance, risk control, investment research, and other aspects of virtual assets, and will provide investors with virtual asset fund products based on the overall goals and requirements of the compliance system in the future.Chen Peiquan, Executive Director of Victory Securities, stated that clients have an increasing demand for investment in different categories of assets. As the virtual asset industry is in a period of rapid development globally, they will actively collaborate with professional virtual asset institutions to establish compliant products.

ChainCatcher news, institutional-level virtual asset management company HashKey Capital officially announced that it has obtained an exemption from the Hong Kong Securities and Futures Commission (SFC) regarding the qualified investor clause in its existing Asset Management (Type 9) license for HashKey Capital Limited.As one of the first virtual asset management companies to receive this license upgrade, HashKey Capital Limited will be able to offer retail investors fund products related to virtual assets in the future (specific products are subject to final approval by the SFC).Deng Chao, Head of HashKey Singapore and CEO of HashKey Capital, stated: "This license upgrade demonstrates our firm commitment to regulatory compliance and protecting investor rights. It not only reflects our leading role in the industry but also provides retail investors with an entry point to participate in capturing high-growth opportunities in the virtual asset market through a professional, trustworthy, and regulated platform."In addition, this license upgrade will bring new product categories to HashKey Capital, opening up new markets and opportunities, while also allowing it to reach a broader range of investors and expand its influence in the virtual asset management field. This aligns with HashKey Capital's strategic vision of providing diversified investment solutions to adapt to the evolving virtual asset market.Previously, on April 6, HashKey Capital announced a strategic partnership with Bosera International aimed at driving innovation and promoting industry growth. With the recent license upgrade, this collaboration is expected to pave the way for both parties to jointly explore innovative fund products, including spot ETFs, and bring new investment opportunities to retail investors.

ChainCatcher news, Guofu Innovation announced that its board has approved a budget of HKD 5 million for the group's investments related to cryptocurrency and virtual asset funds in the year following the date of this announcement. This budget will primarily be used to purchase cryptocurrencies (mainly including Bitcoin) on regulated and licensed trading platforms; and to subscribe to Hong Kong compliant virtual asset funds (i.e., virtual asset funds whose fund managers are recognized to engage in regulated activities under the Securities and Futures Ordinance, and are approved to invest more than 10% of the total asset value of the portfolio in virtual assets or indirectly invest in virtual assets).

ChainCatcher news, the Hong Kong Securities and Futures Commission pointed out in the "Circular on the SFC's Recognition of Fund Investment in Virtual Assets" that the trustee/custodian of virtual asset funds and any representatives responsible for holding the virtual assets of SFC-recognized virtual asset funds should ensure that the holdings of virtual assets are kept separate from their own assets and the assets held for other clients. They should also store the majority of virtual asset holdings in cold wallets, and minimize the amount and duration of virtual assets stored in hot wallets, unless necessary to meet subscription and redemption needs. Additionally, they must ensure that mnemonic phrases and private keys are securely stored locally in Hong Kong, strictly limit authorized personnel, adequately resist speculation (e.g., through non-deterministic generation) or collusion (through measures such as multi-signature and key sharding), and implement appropriate backups to reduce any single points of failure.

ChainCatcher news, Victory Securities announced that the compliance Bitcoin fund Victory EMC BTC Cycle Fund, launched in collaboration with EMC Labs, has received official approval from the Hong Kong Securities and Futures Commission (SFC). The fund is open to qualified professional investors and employs data mining and industry research as the basis for active cyclical allocation to Bitcoin.It is reported that this move marks the fund as the first virtual asset fund in Hong Kong to receive SFC approval and accept subscriptions in USD stablecoins (such as USDC or USDT).

ChainCatcher News, China Pacific Insurance Group's China Taiping Investment Management (Hong Kong) Co., Ltd. ("Taiping Asset Management Hong Kong") announced that its existing Type 1 (dealing in securities) and Type 4 (advising on securities) regulated businesses have been approved for upgrade by the Hong Kong Securities and Futures Commission. Effective immediately, Taiping Asset Management Hong Kong can provide distribution and investment advisory services for funds with a virtual asset investment ratio exceeding 10%.This upgrade marks an important step for Taiping Asset Management Hong Kong in advancing into the virtual asset field while adhering to compliance and regulatory requirements. With the completion of the above license upgrade, Taiping Asset Management Hong Kong will continue to delve into various aspects of the virtual asset-related field, including fund distribution and investment advisory services, empowering virtual asset projects, and collaborating with trusted partners to contribute to Hong Kong becoming a sustainable and responsibly developed virtual asset center, forming a virtual asset ecosystem, and paving the way for the large-scale application of Web3.