Circular on SFC-authorised Funds with Exposure to Virtual Assets

The Securities and Futures Commission (SFC) has issued a circular outlining requirements for SFC-authorised funds with exposure to virtual assets (VA) of more than 10% of their net asset value for public offerings in Hong Kong.

The circular supersedes the Circular on Virtual Asset Futures Exchange Traded Funds issued on 31 October 2022. SFC-authorised VA Funds must meet the applicable requirements in the SFC Handbook for Unit Trusts and Mutual Funds, Investment-Linked Assurance Schemes and Unlisted Structured Investment Products, and conduct transactions and direct acquisitions of spot VA through SFC-licensed VATPs or authorised financial institutions.



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