HashKey, Bosera receive green light for tokenized money market ETFs from Hong Kong's SFC

HashKey and Bosera are introducing tokenized money market exchange-traded funds (ETFs) in Hong Kong, providing blockchain-enabled access to stable cash management solutions.

HashKey, a cryptocurrency exchange, has partnered with Bosera, a Chinese asset management firm, to launch two tokenized money market ETFs in Hong Kong. These ETFs aim to provide low-risk, liquid investment options to investors.

The ETFs, named the Bosera HKD Money Market ETF and the Bosera USD Money Market ETF, are anticipated to provide investors with blockchain-enabled access to low-risk, liquid investment products. They have been granted approval by the Hong Kong Securities and Futures Commission, as stated in a press release dated Mar. 28.

According to HashKey, these ETFs offer enhanced transparency and operational efficiency compared to traditional money market funds through the use of blockchain technology. This enables investors to gain direct exposure to high-quality money market instruments through tokens, thereby addressing their asset allocation and risk management requirements.

"Bosera's tokenized money market fund offers a reliable 'yield stabilizer' solution for DeFi investors seeking to balance their returns or virtual asset investors looking to mitigate market risk."

HashKey

The funds intend to offer investors a secure and stable cash management option, similar to those typically found in traditional money market funds.

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

The exact launch date of the ETFs has not been announced, but they are expected to be available in April. According to the companies, the ETFs are part of the Hong Kong Monetary Authority's Project Ensemble Sandbox, which focuses on the tokenization of real-world assets.