On February 12, according to Cointelegraph, Avalon Labs announced that it is actively exploring the application to the Securities Exchange Commission (SEC) for the industry's first Bitcoin collateralized debt listed fund to promote the compliance and popularization of Bitcoin financial products. This move is expected to lower the threshold for Bitcoin financial products to enter the mass market and provide a new path for the crypto industry to move towards the mainstream financial system. It is reported that the co-founder of Avalon Labs successfully issued a US dollar debt listed fund in 2021 and received SEC approval, and in the following years, in-depth research on the feasibility of crypto companies issuing listed funds. Avalon Labs said it plans to work with top U.S. law firms to evaluate the fund's compliance framework and prepare relevant application materials. If successful, the fund is expected to be an important milestone in the entry of bitcoin financial products into traditional capital markets, further promoting the development of crypto assets within the compliance framework.