Mirae Asset Launches Hong Kong's First Tokenized Covered Call ETF

Mirae Asset Global Investments' Hong Kong branch has launched a tokenized unit class for the Global X HSCEI Covered Call Active ETF. This class became effective on the 27th and has started accepting subscriptions immediately. This product marks the first instance of introducing a tokenized unit class for a covered call ETF in Hong Kong, where one token corresponds to one tokenized unit of the fund. Investors can hold their shares in the form of digital tokens while retaining their rights to the existing fund. Citi is responsible for custody, safekeeping, fund administration, and ETF services, while OSL provides the tokenization process and access pathways. Both institutional and individual investors can participate in this class through a regulated platform. As of the 27th, the total net assets of this ETF's listed class amount to $2,854,754,497.25, which is equivalent to HKD 22,379,531,048.11. The tokenized class is offered in both Hong Kong dollars and US dollars, with a minimum initial investment of HKD 5,000 and USD 5,000, respectively. This ETF is set to be established in February 2024 and will be listed on the Hong Kong Stock Exchange, utilizing a covered call strategy. Tokenization is a mechanism that changes the way the fund's holdings and transfers are recorded, but it does not guarantee returns.

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