The "Hang Seng Gold ETF," Hong Kong's first physical gold exchange-traded fund, made its debut on the Hong Kong Stock Exchange, climbing nearly 9% from its initial price of HK$17.39. The ETF will offer tokenized non-listed fund units, with HSBC Bank acting as the tokenization agent. Initially, Ethereum will be used as the primary blockchain, with potential for other secure public blockchains in the future. Investors can purchase or redeem tokenized units through eligible distributors. Michael Hsu Chak-yu, Hong Kong's Secretary for Financial Services and the Treasury, highlighted the signing of a cooperation agreement with the Shanghai Gold Exchange at the listing ceremony. The launch comes amid a backdrop of rising global gold demand, which increased by 44% year-on-year in the third quarter, reaching a record US$146 billion. Gold ETF holdings also saw a significant rise, increasing by 222 tons to over 3,800 tons during the same period.