Regulation & supervision
Hong Kong SFC eyes tokenised gold ETF pilot, launches innovation pathway
APACSource: Securities and Futures Commission of Hong Kong
AI-generated image- In a keynote at Hong Kong FinTech Week on 2 November 2026, SFC Executive Director for Investment Products Elisa Ng said the SFC has allowed tokenised retail products since 2023, bringing the total to 17, spanning money market funds, gold products and ETFs, with total assets under management of US$1.3 billion.
- She said the SFC will closely monitor the first batch of tokenised money market funds approved for secondary trading on SFC-licensed platforms and consider how to extend the model, adding that tokenised gold ETFs may form the next pilot, and that the SFC is introducing an “innovation pathway” drawing on its existing powers to support controlled pilots.
- She also said the SFC recently provided guidance to facilitate retail funds to hold and deal in regulated stablecoins and tokenised deposits, and named banks among the participants that must be ready to operate within an on-chain workflow.
Why it matters
The SFC ties the next phase of tokenised funds to digital money and calls on custodians, fund administrators and banks to adapt their workflows, which points to demand for bank-issued tokenised deposits as the cash leg for tokenised fund trading and treasury use in Hong Kong.
Read the original: Securities and Futures Commission of Hong Kong ↗
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More detail
Who is affected
Asset managers, custodians, fund administrators and banks, which the speech names as participants that must be ready to operate within an on-chain workflow.
Key dates
- Keynote speech at Hong Kong FinTech Week 2026
What remains uncertain
- The speech says tokenised gold ETFs “may” form the next pilot; no timetable is given.
- The SFC notes this is the text of the speech as drafted, which may differ from the delivered version.
Key facts
- Event
- Speech
- Jurisdiction
- APAC
- Source
- Securities and Futures Commission of Hong Kong
- Source tier
- Tier 1 · Regulator / central bank
- Product
- Tokenized funds
In the database
Institutions
How we verified this
The source says
“On the product side, the Securities and Futures Commission (SFC) has allowed tokenised retail products since 2023, bringing the total to 17 now, spanning money market funds, gold products and exchange-traded funds (ETFs) with encouraging total assets under management (AUM) of US$1.3 billion.”
“Tokenised gold ETFs may form the next pilot.”
“To this end, we are introducing an “innovation pathway” that draws on our existing powers to support responsible innovation.”
“Recently, we also provided guidance to facilitate retail funds to hold and deal in regulated stablecoins and tokenised deposits.”
“On the money side, we have facilitated international banks in Hong Kong to launch regulated stablecoins and tokenised deposits, which serve as essential instruments for on-chain payments.”
Verbatim from Securities and Futures Commission of Hong Kong, matched word for word against the live page on 13 November 2026.
Sources
- PrimarySecurities and Futures Commission of Hong Kong ↗2026-11-02T1Regulator
Evidence
- Confidence
- High Primary source (regulator / official record); quote string-matched against the live page.
- Quote verified
- 2026-11-13 11:59 UTC
- Archived snapshot
- SHA-256
5663c8adf1d8ccf3…· fetched 2026-11-08 · Wayback Machine copy ↗ - Source type
- Primary Securities and Futures Commission of Hong Kong ↗
Change log (1)
- 2026-11-08 Published
AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source; quote string-matched against the live source page.
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