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

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ChainCatcher message, the Hong Kong Securities and Futures Commission announced a new regulatory framework, allowing tokenized investment products approved by the SFC to be traded 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. By March 2026, Hong Kong has 13 tokenized products offered to the public, with the total value of tokenized category shares managing assets increasing to approximately HKD 10.7 billion. The first batch of products is expected to mainly be tokenized money market funds. The new measures cover fair pricing, orderly trading, liquidity provision, and information disclosure.

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