Hong Kong SFC approves tokenized money market ETFs by HashKey, Bosera

HashKey and Bosera are launching tokenized money market ETFs in Hong Kong, offering blockchain-based access to stable cash management.

Cryptocurrency exchange HashKey, in collaboration with Chinese asset manager Bosera, is set to launch two tokenized money market exchange-traded funds in Hong Kong in a bid to offer low-risk, liquid investment products.

The ETFs, called the Bosera HKD Money Market ETF and the Bosera USD Money Market ETF, are expected to offer investors blockchain-based access to low-risk, liquid investment products, and have already been approved by the Hong Kong Securities and Futures Commission, according to a Mar. 28 press release.

In comparison to traditional money market funds, HashKey says the product “greatly improves transparency and operational efficiency through blockchain technology, enabling investors to gain direct exposure to high-quality money market instruments by tokens, thereby fulfilling their asset allocation and risk management needs.”

“DeFi investors seeking to balance their yields or virtual asset investors looking to mitigate market risk can find a reliable solution in Bosera’s tokenised money market fund, serving as a ‘yield stabiliser’ for on-chain investors.”

HashKey

The funds aim to provide investors with a secure, stable option for cash management, typically seen in traditional money market funds.

HashKey Exchange, the licensed virtual asset trading platform in Hong Kong, will serve as the primary distribution channel while also providing custody services through its upcoming Earn Channel, the press release reads.

Although the exact launch date hasn’t been confirmed, the ETFs are expected to be released in April. According to a statement from the companies, the ETFs are part of the Hong Kong Monetary Authority’s Project Ensemble Sandbox, which explores the tokenization of real-world assets.