In a move backed by Hong Kong regulators, HashKey Group and Bosera Asset Management will launch what they describe as the world’s first tokenized money market exchange-traded funds in April. The new class of tokenized shares will be added to Bosera’s existing HKD and USD Money Market ETFs, both of which have received approval from the Hong Kong Securities and Futures Commission.
The ETFs will be part of the Hong Kong Monetary Authority’s Project Ensemble Sandbox, an initiative to test real-world asset tokenization. HashKey, a participant in the sandbox, said it would continue working with regulators to advance the city’s tokenization ecosystem.
The tokenized share classes are designed to merge traditional fund stability with blockchain-based flexibility. Money market funds are known for high liquidity and low risk, often serving as tools for institutional cash management. Bosera’s use of blockchain is intended to enhance transparency and operational efficiency. Investors will be able to access these funds directly via tokens.
HashKey Exchange, Hong Kong’s largest licensed virtual asset trading platform, will act as the main distribution and custody channel. HashKey Tokenisation will oversee the technical framework and deploy the assets on its HashKey Chain. The NexaToken service will provide secure on-chain asset management.
Custody and administration for the funds will be handled by two firms: CMB Wing Lung (Trustee) Limited for the HKD ETF and BOCI-Prudential Trustee Limited for the USD ETF. Services will include fund valuation, registry, and transfer agency support.
“Bringing money market ETFs on-chain through blockchain technology is a crucial step for traditional finance to embrace Web3,”
said Xiao Feng, Chairman and CEO of HashKey Group. He added that tokenized investment products would encourage more financial institutions to enter the digital asset sector.
Bosera’s Web3 Strategy
Bosera described the launch as part of its Web3 strategy, following its earlier virtual asset spot ETF.
“We also pay close attention to the investment preferences and demands of on-chain investors and Generation Z investors,”
Said Bosera International CEO Lian Shaodong M.H.
BOCI-Prudential, which played a key role in the development of Project Ensemble, said it had validated the full fund tokenization process. “As the digital asset ecosystem continues to mature, we remain focused on delivering efficient settlement services,” said Andrew Law, CEO of BOCI Prudential.
HashKey Group operates globally, with a presence in Hong Kong, Singapore, Japan, Ireland, and Bermuda. The firm is building a full-stack Web3 infrastructure, including exchanges, asset management, and tokenization services. Bosera Funds, one of the first Chinese asset managers to establish operations in Hong Kong, has offered cross-border asset management solutions for over 15 years.
