Hong Kong's Securities and Futures Commission (SFC) has approved secondary-market trading of publicly offered tokenized funds on licensed virtual asset trading platforms, in what the regulator described as a global first.

Two existing SFC-authorized tokenized money market funds began offering round-the-clock secondary trading on October 26.

The approval follows a regulatory framework introduced in April 2026 allowing SFC-authorized tokenized funds to trade on licensed virtual asset platforms. The framework sets requirements for trading arrangements, fair pricing, liquidity provision and disclosure.

The move gives investors a way to buy and sell tokenized fund units outside conventional fund subscription and redemption arrangements.