According to Foresight News, the Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority have issued a joint circular, stating that they have reviewed their current policies for intermediaries intending to engage in virtual asset-related activities. In addition to existing cryptocurrency futures ETFs, the SFC said it is 'prepared to accept authorization applications for other funds involving virtual assets, including virtual asset spot exchange-traded funds (VA spot ETFs).' In another circular published today, the SFC stipulated that cryptocurrency transactions for such ETFs should be conducted through SFC-licensed cryptocurrency platforms or recognized financial institutions, and that 'SFC-recognized spot virtual asset ETFs are allowed to have physical and cash subscriptions and redemptions.'