Jack Ma indirectly holds shares in Yunfeng Financial's subsidiary, Vantone Insurance, which has launched a "virtual asset fund" linked to investment options.

On November 17th, according to Hong Kong media outlet Oriental Daily News, MassMutual Insurance announced its investment options linked to "virtual asset funds" and has completed the relevant regulatory review process. Specific details regarding the investment options for the new investment-linked life insurance product will be announced in due course. It is understood that Yunfeng Financial, indirectly owned by Jack Ma, has acquired the Hong Kong and Macau business assets of MassMutual Life Insurance. Currently, it mainly operates long-term insurance businesses in Hong Kong, including life and annuities, investment-linked long-term insurance, permanent health insurance, and retirement plan management.