On October 26, the Hong Kong Securities and Futures Commission made a groundbreaking announcement: it had given the nod for the secondary market trading of the world's inaugural batch of tokenized funds available to the general public, to be traded on Hong Kong's licensed virtual asset trading platforms (VATPs). From that very day, two tokenized money market funds, already recognized by the SFC, would commence providing 24/7 secondary market trading services.

Previously, the SFC had laid out plans to roll out a fresh regulatory framework in April 2026, which would permit recognized tokenized funds to engage in secondary market trading on licensed VATPs. However, this recent approval was granted under the current regulatory framework governing exchange-traded funds and VATPs. In its circular, the SFC shed light on the pertinent regulations and safeguard measures for the secondary market trading of tokenized funds. These encompassed the operational aspects of trading channels, ensuring fair pricing, maintaining liquidity, and adhering to information disclosure requirements.