Hang Seng Lists Physically Backed Gold ETF With Planned Ethereum Tokenized Shares

Overview

• The Hang Seng Gold ETF began trading on HKEX under codes 03170/3170 and rose about 9% in early Asia hours.
• It tracks the LBMA Gold Price AM and holds LBMA-standard bullion in vaults located in Hong Kong.
• The fund’s prospectus includes a tokenized share class to be issued on Ethereum, with potential expansion to other public blockchains.
• HSBC has been appointed as tokenization agent, and the tokenized units remain closed for subscription pending approvals.
• Subscriptions and redemptions for tokenized units must go through qualified distributors, with no secondary-market trading permitted.