The first gold ETF in Hong Kong officially listed on the Stock Exchange, rising nearly 9%

According to a report from Radio Television Hong Kong, Hong Kong's first gold ETF, the "Hang Seng Gold ETF," was officially listed on the Hong Kong Stock Exchange today, with an early price of 17.39 HKD, an increase of nearly 9%.

It is reported that the ETF will have tokenized non-listed class fund units, with HSBC acting as the tokenization agent. Initially, it plans to use Ethereum as the main blockchain, and may adopt other public blockchains with equivalent security resilience and distributed ledger technology in the future. Fund unit holders can subscribe or redeem tokenized fund units in token form through qualified distributors.

The Secretary for Financial Services and the Treasury, Christopher Hui, attended the listing ceremony and stated that a cooperation agreement was signed with the Shanghai Gold Exchange this week. Global gold demand increased by 44% year-on-year in the third quarter of last year, reaching a record 146 billion USD, with gold ETF holdings increasing by 222 tons to over 3,800 tons in that quarter.