Hong Kong regulator approves secondary market trading of tokenised funds for first time globally
Hong Kong's Securities and Futures Commission has approved the first tokenised funds for public offering to be traded on licensed virtual asset trading platforms. Two tokenised money market funds began round-the-clock secondary market trading on 26 October 2026, marking a milestone in the city's dig
The Securities and Futures Commission (SFC) of Hong Kong has approved the world's first tokenised funds offered to the public for secondary market trading on SFC-licensed virtual asset trading platforms (VATPs).
Two existing SFC-authorised tokenised money market funds — the Huaxia Hong Kong Dollar Digital Currency Fund and the Huaxia US Dollar Digital Currency Fund — began round-the-clock secondary market trading on 26 October 2026.
Wu Jiali, Executive Director of the SFC's Investment Products Division, said the launch of secondary market trading for tokenised money market funds marked an important milestone in advancing Hong Kong's digital asset development. She said it put the SFC's regulatory framework into practice and added round-the-clock trading functions to the city's evolving tokenisation ecosystem. The SFC would continue to promote responsible innovation while safeguarding investors, further cementing Hong Kong's position as a tokenisation pioneer, she added.
The SFC said the initial products are mainly tokenised money market funds. It will closely monitor related trading activities and consider expanding the product range in due course, based on market developments and accumulated experience.
Building on the existing regulatory regimes for exchange-traded funds and VATPs, the SFC introduced a new regulatory framework in April 2026 to pilot secondary market trading of authorised tokenised funds on SFC-licensed VATPs.
