According to Golden Finance, Cai Fengyi, executive director of the Investment Products Department of the Hong Kong Securities Regulatory Commission, attended the Hong Kong Web 3 Carnival today (April 7), and said that the Hong Kong Securities Regulatory Commission will issue a circular today to allow licensed virtual asset trading platforms to provide pledge services, including pledges for virtual asset spot ETFs. Pledge allows investors to lock in their virtual assets to support the blockchain network and get returns, but due to risks, the CSRC will implement additional safeguards, including requiring licensed platforms to keep pledged virtual assets and set upper limits for the proportion of spot ETFs that can be pledged to manage liquidity risks. Cai Fengyi also said that the Hong Kong Securities Regulatory Commission is expanding the scope of qualified virtual asset targets. Initially, the spot ETF of virtual assets mainly focused on Bitcoin and Ether. Now more virtual assets have met the conditions for retail transactions on licensed platforms, which will pave the way for diversification of ETF products, such as a single ETF that tracks a basket of virtual assets.