The Hong Kong Securities and Futures Commission released its quarterly report: The total market value of Q3 virtual asset spot ETFs reached $920 million, an increase of 217%. According to a report by Golden Finance, the Securities and Futures Commission of Hong Kong published the third quarter report for the period from July to September 2025, which disclosed that the total market value of Q3 virtual asset spot ETFs reached $920 million, up 217% since their launch. The asset management scale of five tokenized money market funds reached HKD 5.387 billion (approximately $692 million), an increase of 391% compared to the previous quarter. In addition, the Hong Kong Securities and Futures Commission confirmed that the stamp duty exemption for the transfer of ETFs applies to tokenized ETFs, aimed at promoting secondary market trading of tokenized ETFs and further expanding market access for tokenized fixed income and monetary products. Currently, licenses have been issued to 11 virtual asset trading platforms, and applications from 8 virtual asset trading platform applicants are under review.

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