Total assets under management of Hong Kong virtual asset ETFs exceed US$300 million

According to news on May 14, Hong Kong media revealed the latest display that the total assets under management of Hong Kong’s virtual asset ETFs exceeded US$300 million, and the total daily turnover of the six virtual asset ETFs since their listing has reached an average of HK$20 million. In the past year, Hong Kong’s virtual assets and Web3 industries have been looking for models suitable for the development of regional characteristics, from VATP, Hong Kong dollar stable currency, VAOTC, tokenization and RWA, to virtual asset spot ETFs. In terms of stablecoins, Hong Kong has chosen a different regulatory approach than Singapore and Japan. It regulates them by imposing a new license instead of incorporating them into the payment system. This is an innovation at the regulatory level.