Wu said that it was learned that crypto ETP issuer 21Shares urged the European Securities and Markets Authority (ESMA) to establish a unified regulatory framework to include crypto assets in UCITS (Undertakings for Collective Investment in Transferable Securities) funds, calling for regulatory transparency to unlock cryptocurrency opportunities for European investors. Currently, the rules on including crypto assets in UCITS funds are inconsistent across Europe. Germany and Malta allow UCITS to hold cryptocurrencies, while Luxembourg and Ireland do not.