On Thursday, Hang Seng Physical Gold ETF was listed, setting up tokenized non-listed class fund units

Hang Seng Investment has recently launched a new gold ETF, "Hang Seng Gold ETF" (03170.HK), which is expected to be listed on the Hong Kong Stock Exchange on Thursday (29th). According to the information, as of January 23, the net asset value per unit of the ETF is HKD 16, with a trading unit of 50 shares, an annual management fee of 0.25%, and an annual recurring expense ratio of 0.4%. The tracking deviation is -0.5%, and the relevant benchmark is the "LBMA Gold Price AM".

The ETF holds physical gold, and all gold bars will be stored in a designated vault located in Hong Kong. The gold custodian is a wholly-owned subsidiary of HSBC Holdings (00005.HK), which has arranged for the storage of the sub-fund's physical gold bars in Hong Kong with Hong Kong International Airport Precious Metals Storage Limited and Brink's Hong Kong Limited.

At the same time, the ETF also offers tokenized non-listed class fund units, with HSBC acting as the tokenization agent. Initially, Ethereum is planned to be used as the primary blockchain, with the possibility of adopting other public blockchains that have equivalent security resilience and distributed ledger technology in the future. Fund unit holders can only subscribe or redeem tokenized fund units in token form through qualified distributors, and there is no secondary market available for trading