According to Foresight News, Victory Securities announced that the compliant Bitcoin fund "Victory EMC BTC Cycle Fund" jointly launched with EMC Labs has been approved by the Hong Kong Securities and Futures Commission to enter the market. The fund is aimed at qualified professional investors and is based on data mining and industry research to actively cyclically allocate Bitcoin. It is also the only virtual asset fund in Hong Kong that has been approved by the Securities and Futures Commission and is based on stablecoin subscription. Chen Peiquan, executive director of Victory Securities, said that the fund will be able to accept deposits in US dollars, USDC or USDT, providing investors with a convenient way to participate in the compliant and licensed virtual asset market.