Svmuu News: The Investor and Financial Education Committee under the Hong Kong Securities and Futures Commission conducted a follow-up study to the previously published scientific research on the behavior of virtual asset investors, titled “Heuristics in Investment Decision-Making.” The results revealed that Hong Kong virtual asset investors’ tendency toward herd behavior, their propensity to take on higher risks after making a profit, and their reliance on past experience have all significantly diminished. In addition, investors were less likely to mimic the crowd in buying specific virtual assets, and their tendency to take on higher risks after making a profit, as well as their reliance on personal past experiences, also decreased. The study indicates that behavioral biases still exist among Hong Kong virtual asset investors when making investment decisions; fear of missing out (FOMO) and overconfidence remain prevalent, and investors’ reliance on their own intuition and on authority figures—including financial influencers—has also increased. (HK01)