Hong Kong Opens 24/7 Trading for Two Tokenised Money-Market Funds

What happened

Hong Kong’s Securities and Futures Commission said on October 26 it approved secondary trading for two authorised tokenised money-market funds, ChinaAMC’s Hong Kong-dollar and US-dollar digital funds, on a licensed virtual-asset platform, available around the clock.

Confirmed

Global impact / market context

It lets investors buy and sell existing fund units with each other outside normal dealing hours, which means money can move without fresh subscriptions or redemptions. That could make these cash-like funds easier to trade, but the depth of that trading is still unknown.

Analyst inference

Hong Kong is testing whether regulated tokenised funds can trade continuously rather than only through ordinary dealing windows. If buyers and sellers show up around the clock, the model could spread to similar funds; thin trading would limit its practical value.

Analyst inference

What to watch

1. The regulator said it will monitor trading of the two ChinaAMC funds and consider whether to expand eligible products. Confirmed
2. Watch whether additional authorised tokenised money-market funds are submitted for approval, since the regulator is weighing a possible expansion. Proposed
3. Track trading volume and price gaps versus net asset value; weak activity would mean around-the-clock trading adds little real access. Analyst inference

Evidence

• newsbtc.com