Gold

<div class="cryptonews">
 <p class="is-style-lead">Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs.</p>
 <p>According to <a rel="noopener noreferrer nofollow" title="local" href="https://thebittimes.com/tag/local.html">local</a> media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices.&nbsp;</p>
 <p>Value Partners already offers the only Hong Kong gold ETF backed by physical gold and believes digitizing its precious metal with blockchain technology will only improve accessibility for investors.&nbsp;</p>
 <p>The move comes after gold hit its all-time high and traded at $2,150 on some venues in December 2023. Gold gained over 14% per data from TradingView.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14232310">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/28/2bfaf49172a3552587a73484de9fce60.webp.webp">
   <img decoding="async" width="1024" height="629" src="https://cdn.thebittimes.com/images/2023/12/28/2bfaf49172a3552587a73484de9fce60.webp" alt="Hong Kong firm mulls tokenizing 3-ton gold vault amid local ETF boon - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Gold 2023 stats | Source: TradingView
  </figcaption>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> <a rel="noopener noreferrer nofollow" title="
Hong Kong " href="https://thebittimes.com/tag/hong-kong.html"> Hong Kong </a>to allow retail investors to participate in spot ETFs
 </div>
 <p>Additionally, Value Partners disclosed its strategy to foray into cryptocurrencies. The Hong Kong asset manager is considering bringing several virtual currency exchange-traded funds to market.&nbsp;</p>
 <p>Zhao Shande, senior strategist of ETF business at Value Partners, said Hong Kong’s regulatory structure for cryptos and recent acceptance of digital asset ETFs would incentivize market participants and attract billions in retail capital.&nbsp;</p>
 <p>As crypto.news reported, Hong Kong’s Securities and Futures Commission (SFC) with its Monetary Authority (HKMA) signaled readiness to review crypto ETFs due to the increased interest in these investment products.&nbsp;</p>
 <p>Unlike the United States Securities and Exchange Commission (SEC), which reportedly favors only in-cash models, Hong Kong financial watchdogs approved both in-cash and in-kind subscriptions.&nbsp;</p>
 <p>The regulators published guidelines to oversee companies’ operations to list spot Bitcoin ETFs and other digital asset funds.&nbsp;</p>
 <p>Hong Kong authorities also announced stablecoin regulations to allow retail investments. The policy requires issuers to obtain a special license, but provisions for algorithmic stablecoins were not disclosed.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Hong Kong’s OneDegree sees significant stablecoin development interest
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hong-kong-firm-mulls-tokenizing-3-ton-gold-vault-amid-local-etf-boon-tbt75033.html">https://thebittimes.com/hong-kong-firm-mulls-tokenizing-3-ton-gold-vault-amid-local-etf-boon-tbt75033.html</a></p>

Hong Kong firm mulls tokenizing 3-ton gold vault amid local ETF boon

TheBitTimes

Other articles published on Dec 28, 2023

Mark Shifke Will Replace Barry Silbert of Grayscale Investments

Ethereum experiences 9% surge, sparking optimism among traders

Shiba Inu: SHIB Burn Rate Spikes over 1600%, Will Price Rally?

Bitcoin’s perplexing paralysis – What’s really going on?

Hong Kong to Become the Next Crypto ETF Hub as BTC ETF Anticipation Continues in US

Why Ripple Transferred 310 Million XRP Out of Escrow

Join our free newsletter for daily crypto updates!