Hong Kong Securities and Futures Commission Announces Regulatory Framework for Secondary Market Trading of Tokenized Investment Products


The Securities and Futures Commission of Hong Kong has announced a new regulatory framework, allowing tokenized SFC-approved investment products to be bought and sold in the secondary market, to promote the development of digital asset trading activities in Hong Kong.
The new guidelines mainly facilitate 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, Hong Kong has already offered 13 tokenized products to the public, with the total value of tokenized category assets under management rising to approximately 107 billion yuan. The first batch of products is expected to mainly include tokenized money market funds. The new measures cover fair pricing, orderly trading, liquidity provision, and information disclosure.
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