Hong Kong's virtual asset spot ETF market cap reached $920 million in the third quarter of 2025, marking a 217% increase since its launch. The Securities and Futures Commission (SFC) reported that the assets under management (AUM) for five tokenized money market funds soared by 391%, reaching HKD 5.387 billion. To further enhance market performance and secondary trading, stamp duty exemptions have been introduced for tokenized ETF transfers. Currently, eleven platforms are licensed to operate in this space, with an additional eight platforms under review by the SFC. These developments underscore Hong Kong's growing prominence in the virtual asset market and its commitment to fostering a robust regulatory environment for digital financial products.