Building on the momentum from two successful green bond issuances in 2023 and 2024, Hong Kong is preparing its next tokenized bond batch. Financial Secretary Christopher Hui emphasized that this is more than a one-off initiative—it’s a step toward integrating tokenized debt instruments as a regular component of the city’s financial strategy.

Blockchain-Based Bonds Signal Institutional Maturity

The upcoming bond issuance will be recorded and settled using distributed ledger technology (DLT), offering enhanced transparency and efficiency. By doing so, Hong Kong aims to boost institutional confidence and attract global investors to its blockchain-powered financial infrastructure.

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The government is also exploring tax incentives, such as stamp duty exemptions on tokenized ETFs, to encourage wider adoption of tokenized assets in mainstream markets.

A Strategic Leap With Policy 2.0

These moves align with the newly launched Digital Asset Development Policy 2.0, also known as the “LEAP” framework. This forward-looking strategy focuses on legal clarity, ecosystem growth, real-world use cases, and talent development.

Starting August 1, stablecoin issuers will be required to operate under a licensing regime. Simultaneously, public consultations are underway for digital asset trading platforms and custodial services, running through the end of August.

Further bolstering its digital credentials, Hong Kong Exchanges and Clearing (HKEX) has launched real-time price indexes for Bitcoin and Ethereum, providing local reference pricing during Asian market hours to support institutional involvement.

The city’s ambitions don’t stop there. Regulators are preparing the ground for digital asset derivatives, including ETFs and staking services. With legislative support such as the recently passed Stablecoin Bill, Hong Kong is solidifying its global leadership in digital finance and Web3 innovation.

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HKEX CEO Bonnie Y Chan stated that this initiative aims to provide reliable and transparent real-time indicators for investors in the region, in order to support the development of the virtual asset ecosystem and reinforce Hong Kong’s role as an international financial center. The index will be based on the 24-hour volume-weighted average spot prices of Bitcoin and Ether and will be denominated in US dollars.

The index series will be managed by CCData, a UK-based indicator provider, and will be designed to comply with European Union (EU) benchmark regulations.

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HKEX listed Asia’s first spot crypto exchange-traded funds (ETFs) in April this year. However, these ETFs initially attracted limited investor attention; after a peak of $4.73 million on Oct. 16, daily trading volume for the three Bitcoin ETFs fell to $741,030.

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The newly listed ETFs include the Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ether ETF (3009.HK), ChinaAMC Bitcoin ETF (3042.HK), ChinaAMC Ether ETF (3046.HK), Harvest Bitcoin Spot ETF (3439.HK), and Harvest Ether Spot ETF (3179.HK).

“The launch of the first spot Virtual Asset ETFs in Asia, following the success of Virtual Asset Futures ETFs, will further enhance product diversity and liquidity in the ETP market in Hong Kong,” said Brian Roberts, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited (HKEX).

According to exchange data, the spot Bitcoin and Ethereum ETFs that began trading in Hong Kong today generated a trading volume of 49.4 million Hong Kong dollars (US$6.3 million) in just the morning hours.

Of these, the ChinaAMC Bitcoin ETF, established by China Asset Management, saw the largest volume at 22.97 million Hong Kong dollars. The trading volume of the ChinaAMC Ether ETF was 10.47 million Hong Kong dollars.

Harvest’s spot Bitcoin ETF had a trading volume of 8.11 million; its Ethereum ETF, 2.18 million Hong Kong dollars. These figures were 3.59 million and 1.53 million Hong Kong dollars, respectively, for Bosera HashKey’s Bitcoin ETF and Ethereum ETF.

The post Hong Kong’s Bitcoin and Ethereum ETFs Begin Trading: Millions Raised in a Few Hours appeared first on Coin Engineer.

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HKEX Synapse will provide real-time visibility and information delivery capability for all market participants by eliminating sequential processes.

Glenda So (HKEX Group FIC President) has announced

HKEX Group Emerging Business and FIC President Glenda So said, “We are pleasure to launch HKEX Synapse, a significant upgrade to our Stock Connect infrastructure, which will support the next phase of growth for international participation in China’s mainland stock markets. Additionally, this technology-powered platform will not only increase post-trade efficiency but will also create a stronger, better ecosystem by supporting both market growth and investor growth strategies over time. We are very proud to introduce Synapse to our market and look forward to continuing to adopt new technologies that will benefit our markets and customers in the future.”

The Hong Kong Stock Exchange had licensed many crypto companies to be able to operate in Hong Kong. HashKey and OSL companies received the most recent licenses. OKX had announced that it was about to get a Hong Kong virtual asset service provider license ( VASP). Hong Kong-based CMCC Global raised 100 million US dollars for the Titan Fund, a new fund aimed at supporting Asian blockchain start-ups. This shows us that the crypto sector in Hong Kong is growing rapidly.

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