According to Wu, in addition to Bosera, Huaxia and Harvest, Hong Kong local institution Value Partners also applied to issue virtual currency spot ETFs, but it did not appear in the approved list in the end. People familiar with the matter revealed that Value Partners chose to withdraw after applying because the preparations were not completed, time was tight, and there was a shortage of manpower. In addition, compared with the other three companies, Value Partners mainly engages in active business in Hong Kong, and its ETF business is relatively weak, so it decided to wait and see first.