Hong Kong Approves World's First Trading of Tokenized Funds

The Hong Kong Securities and Futures Commission (SFC) has approved the world's first secondary trading of tokenized public investment funds on a licensed virtual asset platform. This involves two money market funds from China Asset Management (ChinaAMC), whose shares have become available for round-the-clock operations.

The approval applies to the ChinaAMC HKD Digital Money Market Fund and the ChinaAMC USD Digital Money Market Fund, denominated in Hong Kong dollars and US dollars, respectively. The trading is facilitated by the licensed crypto platform PantherTrade: according to its official announcement, the CAMFF-HKD and CUMFU-USD pairs became available on October 15, 2026. Both retail and professional investors can work with them.

The tokens represent digital shares of the respective funds, with official ownership records maintained off-chain. Secondary trading allows investors to buy and sell existing shares to other market participants, without being limited to transactions directly with the management company.

In April 2026, the SFC introduced a regulatory framework for such operations. It includes requirements for fair pricing, liquidity, information disclosure, and investor protection.

According to the regulator's assessment, round-the-clock access to tokenized instruments will accelerate settlements and increase capital mobility: investors will be able to sell assets outside standard trading hours and direct the proceeds to other operations. Elisa Ng Ka-li, Executive Director of the SFC's Investment Products Division, called the launch an important milestone in the development of Hong Kong's digital asset market. According to her, the ability to trade around the clock will become one of the key elements of the emerging tokenization infrastructure.

At the initial stage, the regulator will focus on money market funds. In the future, the SFC will consider expanding the list of products based on trading results and market conditions.

The real-world tokenized assets sector continues to develop: according to RWA xyz, its capitalization has grown by approximately $300 million since the beginning of October 2026. Previously, Franklin Templeton launched a tokenized money market fund in Hong Kong based on the Benji Technology platform.