eBooks

23 July, 2026

Tokenised vs. conventional funds: A Hong Kong field guide

Boat in Open Sea

Hong Kong's latest regulatory approach is reshaping tokenised funds.

The latest developments are making it easier for asset managers to introduce tokenised share classes or oversee funds with virtual asset exposure.

Rather than replacing the existing regulatory framework, the latest measures build on the current rules and should be viewed as an enhancement rather than a complete change.

Our guide examines the practical impact of Hong Kong’s updated regulatory framework and what it means for the asset management industry.

Inside the guide, you'll discover:
  • Why Hong Kong's "wrapper, not rewrite" approach matters for fund managers

  • How custody responsibilities grow when funds become tokenised

  • What the new secondary trading framework means for tokenised open-ended public funds

  • The legal implications of on-chain ownership records and settlement finality

  • What's next under Hong Kong's LEAP framework

 

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