US asset management giant BlackRock Inc. has won approval from Hong Kong’s securities regulator to launch its first tokenised fund in the city

According to the company, the BlackRock HKD Digital Liquidity Fund will leverage blockchain technology while maintaining the traditional features of a money market fund, allowing investors to transact via both conventional and on-chain channels.

“The fund seeks to provide liquidity, stability and income by investing in high-quality, short-term Hong Kong dollar money market instruments, such as government bills and deposits,” BlackRock says.

Hong Kong’s Securities and Futures Commission (SFC) introduced a regulatory framework for tokenised investment products in November 2023. As of March, this year, 13 such products have been introduced, including the first retail tokenised money market fund launched by China Asset Management (Hong Kong) in February 2025.

New York-based BlackRock is the world’s largest asset manager with US$15.3 trillion of assets under management as of end-June.