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The Hang Seng Gold ETF plans to establish tokenized units of an off-market category fund on Ethereum
BlockBeats News, January 27th, according to aastocks report, Hang Seng Investment has announced the latest launch of a new Gold ETF, "Hang Seng Gold ETF" (03170.HK), expected to be listed on the Stock Exchange on Thursday (29th). As of January 23rd, the ETF's net asset value per unit was 16 Hong Kong dollars, with a trading unit of 50 shares, an annual management fee of 0.25%, a total expense ratio of 0.4% per annum, a tracking error of -0.5%, and its benchmark is the "LBMA Gold Price AM."
It is reported that the ETF holds physical gold, and all gold bars will be stored in a designated gold vault in Hong Kong. The gold custodian is a wholly-owned subsidiary of HSBC Holdings (00005.HK), and has arranged for the Hong Kong International Airport Precious Metals Storage Limited and Brink's Hong Kong Limited to jointly custody the sub-fund's physical gold bars in Hong Kong.
Meanwhile, the ETF also plans to establish tokenized non-listed category fund units, with HSBC Bank serving as the tokenization agent. Initially, Ethereum is proposed as the primary blockchain, with a potential future expansion to other public blockchains with equivalent security and distributed ledger technology. Fund unitholders can only subscribe to or redeem tokenized fund units in token form through eligible distributors, and such tokenized shares do not have secondary market trading.
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