Hong Kong investors would double fund allocations with tokenized products, survey finds

Investor demand for tokenized funds shows clear growth potential

Retail investors in Hong Kong and mainland China say they’d invest significantly more in funds if tokenized products were available. According to a new report from Aptos Labs, Boston Consulting Group, and Hang Seng Bank, 61% of surveyed investors would double their fund allocations given access to tokenized options.

The survey included 500 retail investors across both regions. The findings suggest that practical features matter more to investors than the underlying technology itself. Nearly all respondents—about 97%—expressed interest in features like instant settlement, 24/7 access, and improved transparency.

Practical features drive investor interest

What’s interesting here is how specific features seem to drive the interest. Around 71% of those surveyed said access to 24/7 secondary trading would make them more likely to invest. This suggests that liquidity and accessibility might be just as important as the tokenization aspect itself.

The report was based on a Hong Kong pilot that tested tokenized funds settled using programmable digital money. It found that investors didn’t show strong preferences between different types of digital money—whether central bank digital currencies, tokenized bank deposits, or regulated stablecoins. What mattered was that they offered the same features and operated within legal frameworks.

Current limitations in the market

Tokenized funds already exist in Hong Kong, but there are limitations. Most current products are restricted to subscriptions and redemptions, with secondary trading mostly unavailable. This gap between what’s offered and what investors want might explain some of the pent-up demand.

The global tokenized real-world asset market currently stands at about $23 billion, showing more than 13% growth over the past month according to RWAxyz data. That’s not explosive growth, but it’s steady progress.

Broader context and implications

Hong Kong continues to expand its digital asset framework, with Amina Group identifying it as one of Asia’s most active regulated digital asset hubs. Meanwhile, despite crypto trading restrictions on the mainland, an estimated 78 million Chinese citizens hold cryptocurrencies.

The report concludes that token-based infrastructure is both technically viable and commercially attractive. It links clear investor demand to what could be the next generation of financial infrastructure. However, the authors note that as regulated stablecoins and tokenized deposits mature, demand for central bank digital currencies in retail scenarios might be limited.

I think what’s most telling here is the disconnect between current offerings and investor preferences. The technology exists, the demand seems to be there, but the market hasn’t quite caught up yet. Perhaps we’re seeing the early stages of a shift rather than a sudden transformation.

The findings highlight how tokenization interest has been growing worldwide, with major banks and financial firms increasing their focus on tokenized products. But it’s the practical benefits—faster settlement, constant access, more transparency—that seem to be driving actual investor behavior rather than technological novelty alone.