The Hong Kong Securities and Futures Commission announces the regulatory framework for secondary market trading of tokenized investment products

The Hong Kong Securities and Futures Commission has announced a new regulatory framework that allows tokenized investment products approved by the Commission to be traded in the secondary market, in order to promote the development of digital asset trading activities in Hong Kong.

The new guidelines primarily facilitate the secondary market trading of tokenized open-ended funds on licensed virtual asset trading platforms and will consider allowing over-the-counter trading arrangements on a case-by-case basis. As of March 2026, there are already 13 tokenized products available to the public in Hong Kong, with the total asset value of tokenized equity management assets increasing to approximately 10.7 billion. The first batch of products is expected to mainly consist of tokenized money market funds. The new measures cover fair pricing, orderly trading, liquidity provision, and information disclosure.

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