According to CoinMeta, and in accordance with the investor education guidelines of the Hong Kong Investors and Financial Services Education Committee (Investors Committee ifec), Hong Kong has recently officially introduced tokenized funds (tokenized funds) recognized by the Securities and Futures Commission (SFC SFC) for trading on the secondary market. Investors can now directly or through connected brokers buy and sell tokenized fund shares on licensed virtual asset trading platforms in Hong Kong (VATP) using a matching mechanism, enjoying shorter settlement times and better price discovery. The guidelines specify that trading of tokenized funds on the secondary market is regulated under a framework similar to that of ETF. Additionally, there is a two-way interoperability between the primary and secondary markets, but investors need to be wary of potential risks such as price discrepancies caused by supply-demand imbalances, insufficient liquidity during non-traditional trading hours, price segmentation across platforms, and high dependence on a single market maker.