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Hang Seng plans to offer tokenized gold fund units recorded on public blockchains, though the product remains subject to regulatory approval and will not trade on secondary markets.Hang Seng Investment Management has launched a new physically backed gold exchange-traded fund in Hong Kong, with an option for future tokenized access to the asset.
on the Hong Kong Stock Exchange on Thursday under stock code 3170, is designed to track the LBMA Gold Price AM, the widely used morning benchmark set in London. The fund is structured as a passive ETF and holds physical gold bars that meet London Bullion Market Association good delivery standards, Gold held by the ETF is stored in vaults in Hong Kong, with HSBC acting as gold custodian. The structure allows for both in-cash and, in certain cases, in-gold creation and redemption by participating dealers, though retail investors trade units on the secondary market like ordinary shares. The listed class of the ETF trades in Hong Kong dollars and has a board lot size of 50 units. It carries an estimated ongoing charge of 0.40% per year and an estimated annual tracking difference of minus 0.50%. Hang Seng said the fund does not intend to make any dividend distributions, meaning returns will depend entirely on movements in the gold price.Beyond the listed ETF, Hang Seng also outlined plans for tokenized unlisted units of the same fund. These tokenized units, which would represent ownership interests recorded on blockchain infrastructure, are not yet available and remain subject to regulatory approvals. HSBC has been appointed as the tokenization agent and will issue digital tokens that represent ownership of fund units. Each token will correspond to a unit , and subscription and redemption transactions will be recorded on a public blockchain. “Initially, the Tokenisation Agent intends to utilise Ethereum as the primary blockchain. Other public blockchains with comparable level of security resiliency and distributed ledger technology may be adopted in future,” according to the Still, tokenized units can only be subscribed to or redeemed through approved distributors. There won’t be secondary market trading.another 4% on Thursday, pushing spot gold close to $5,530 an ounce for the first time as investors continue to seek safe-haven assets amid increasing economic and geopolitical uncertainty. Last week, the New York Stock Exchange and parent Intercontinental Exchange announced that they are developing a blockchain-based platform toin 2026. Sygnum co-founder and CEO Mathias Imbach predicted that up to 10% of new bond issuance by major institutions may be tokenized at launch.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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