Chairman of the Hong Kong Securities and Futures Commission: The market value of the first batch of virtual asset ETFs has exceeded US$300 million, and more tokenization use cases will be explored

Odaily News Recently, when delivering a speech at the event, the Chairman of the Hong Kong Securities and Futures Commission, Raymond Lam, said that the trading of Hong Kong's first batch of virtual asset spot exchange-traded funds (ETFs) has been operating in an orderly manner since its listing in April. The current market value has exceeded US$300 million. In addition, the launch of the first Asian virtual asset futures ETF product allows retail investors to manage related risks. He believes that innovative products can drive Hong Kong's financial market forward. Raymond Lam emphasized that as a financial center, Hong Kong needs to continue to enhance its resilience through innovative technology, sustainable finance and other fields. It has also noticed that blockchain technology can bring potential advantages such as reducing transaction costs. Among them, asset and securities tokenization can become one of the main use cases. It is currently working closely with the Hong Kong Monetary Authority to explore more different tokenization use cases, hoping to establish a related ecosystem. In addition, Raymond Lam also reminded that virtual assets have the risk of large fluctuations and should not be used as investment advice. However, as professional and retail investors have different risk tolerances and invest in virtual assets through different channels, the Hong Kong Securities and Futures Commission has decided to introduce a regulatory framework to control the activities of related trading platforms.