Hong Kong's recent data is indeed impressive, with tokenized product AUM increasing sixfold in a year, and ETF market value nearly doubling. Regulatory frameworks have kept pace, giving the market confidence.

Wu Shuo learned that the Hong Kong Securities and Futures Commission (SFC) published its “2025-26 Annual Report,” which shows that growth in tokenized investment products in Hong Kong’s capital markets accelerated over the past decade. As of March, the assets under management (AUM) of 13 SFC-authorized retail tokenized products increased nearly sixfold year-on-year to HKD 10.8 billion (108 billion yuan). At the same time, the total market value of 11 virtual asset spot ETFs reached HKD 4.3 billion, up sharply by 90% since their launch in 2024. In addition, the trading volume of 12 licensed virtual asset trading platforms (VATPs) grew significantly by 125% within one year. The Hong Kong SFC has completed the statutory work for four new regulatory regimes, including virtual asset trading, custody, providing advice, and management, and has issued 47 warnings to virtual asset trading platforms and investment products.