Hong Kong's first gold ETF officially listed on the Stock Exchange, with a nearly 9% increase

ChainCatcher News, according to Hong Kong Radio website, Hong Kong’s first gold ETF “Hang Seng Gold ETF” was officially listed on the Hong Kong Stock Exchange today, opening at 17.39 HKD, an increase of nearly 9%.

It is reported that the ETF will establish tokenized units of non-listed category funds, with HSBC acting as the tokenization agent. Initially, Ethereum will be used as the main blockchain, and in the future, other public blockchains with comparable security resilience and distributed ledger technology may be adopted. Fund unit holders can subscribe or redeem tokenized fund units in the form of tokens through qualified distributors.

Hong Kong Financial Secretary Paul Chan Mo-po attended the listing ceremony and stated that this week, a cooperation agreement was signed with the Shanghai Gold Exchange. Last quarter, global gold demand increased by 44% year-on-year to a record $146 billion, with gold ETF holdings increasing by 222 tons to over 3,800 tons.