The SEC’s inspection on the operation of Huobi as a digital asset exchange operator during February 2021 - March 2021 detected deficiencies and insufficiency in Huobi’s management structure and
significantly alter the returns and risks of the fund, for example, the calculation and announcement of asset value, unit value, subscription and redemption prices. The consultation paper can be
recommended to deal with the said insufficiency; (4) Monitoring (MR): Some audit firms were found having insufficient monitoring and without action plans to monitor deficiency remediation. In this regard