Hong Kong's Virtual Asset ETFs Show Steady Growth

According to BlockBeats, on September 27, Hong Kong Securities and Futures Commission (SFC) Chairman Tim Lui addressed an event, highlighting the steady operation of Hong Kong's first virtual asset spot exchange-traded funds (ETFs) since their launch in April. The market value of these ETFs has now exceeded $300 million. Additionally, the introduction of Asia's first virtual asset futures ETF allows retail investors to manage related risks, which Lui believes will drive the continued advancement of Hong Kong's financial market. Lui emphasized that as a financial hub, Hong Kong must continue to enhance its resilience through innovative technologies and sustainable finance. He noted the potential advantages of blockchain technology, such as reducing transaction costs, with asset and securities tokenization being a primary use case. The SFC is currently working closely with the Hong Kong Monetary Authority to explore more tokenization use cases, aiming to establish a related ecosystem. Lui also cautioned about the significant volatility risks associated with virtual assets, advising that they should not be considered investment recommendations. However, recognizing that both professional and retail investors have different risk appetites and invest in virtual assets through various channels, the SFC decided to introduce a regulatory framework to oversee the activities of these trading platforms.