The Hang Seng Gold ETF will issue tokenized fund units based on Ethereum

Hang Seng Investment announced the issuance of the gold exchange-traded fund "Hang Seng Gold ETF," which is expected to be listed on the Hong Kong Stock Exchange. The ETF will have tokenized non-listed class fund units, with HSBC acting as the tokenization agent. Initially, it is planned to use Ethereum as the primary blockchain, with the possibility of adopting other public blockchains that have equivalent security resilience and distributed ledger technology in the future.

It is reported that fund unit holders can subscribe to or redeem tokenized fund units in token form through qualified distributors.