3rd September 2026
By Shubhii Verma
Mirae Asset Global Investments has tokenized a covered-call exchange-traded fund (ETF), marking the asset manager’s first issuance of a tokenized version of a fund it manages.
Mirae Asset unit introduced a tokenized share class for the Global X HSCEI Covered Call Active ETF on August 27, working with Citibank’s Hong Kong operation and digital-asset platform OSL. The initiative uses blockchain technology to represent fund shares as digital tokens, while leaving the underlying investment strategy and investors’ economic rights unchanged.
How the Tokenized ETF Share Class Works
Under the structure, investors can hold and transfer ETF shares in tokenized form. The tokenized share classes are available in both Hong Kong dollars and U.S. dollars and are designed to support monthly distributions. Trading through virtual-asset platforms is also expected to become available, expanding access to the ETF.
Citi is contributing its fund-services infrastructure and supporting operations for the tokenized share class. These include investor registration, custody, fund administration and share transfers. OSL provides blockchain-based tokenization technology and access for institutional and retail investors through its virtual-asset platform, which is licensed by Hong Kong’s Securities and Futures Commission.
What Is the Global X HSCEI Covered Call Active ETF?
The tokenized product is based on the Global X HSCEI Covered Call Active ETF, which launched in February 2024. The fund invests in companies included in the Hang Seng China Enterprises Index while using a covered-call strategy. It sells call options against its equity holdings, generating option premiums that can supplement investment returns and help fund distributions.
The ETF was the first product in Hong Kong to employ a covered-call strategy, and its tokenization represents a step in the development of digital investment infrastructure.
Mirae Asset described the initiative as an extension of ETF innovation from investment products into the infrastructure supporting them. The asset manager said it expects to continue using financial technologies for investors.
Hong Kong Expands Its Role in Tokenized Finance
The move highlights Hong Kong’s regional role in connecting traditional asset management with blockchain-based financial infrastructure. By tokenizing an existing regulated fund rather than creating a separate digital-asset product, the initiative demonstrates how blockchain can improve the way investment products are held, transferred, and distributed.
