Hong Kong's Securities and Futures Commission (SFC) reported significant growth in the virtual asset sector in its Q4 2025 report. The market capitalization of 11 virtual asset ETFs listed in Hong Kong has exceeded HK$5.4 billion (US$7.02 billion), marking a 142% increase since their introduction in 2024. Additionally, tokenized retail money market funds have seen their assets under management rise to HK$8.66 billion (US$1.11 billion), a 14% increase from the previous quarter. The SFC has also joined the Hong Kong Police Force’s Virtual Asset Intelligence Task Force to further innovation in the digital asset markets. Overall, the total market capitalization of SFC-recognized ETFs and leveraged/inverse products grew by 33.7% year-over-year to HK$618.7 billion. Net fund inflows into Hong Kong-incorporated funds surged 118.5% year-over-year to HK$356.7 billion, with assets under management reaching HK$2.28 trillion, a 38.3% increase from the previous year.