China Asset Management (Hong Kong) launched a new gold exchange-traded fund (ETF) on Thursday, giving retail investors low-cost access to physical gold as the city pushes to link traditional financial products with digital-asset infrastructure.The ChinaAMC Digital Gold ETF, to be listed on the Hong Kong stock exchange on Friday, carries a 0.4 per cent management fee and a minimum board lot investment of about HK$355 (US$45) – lower than all existing gold ETF products in the city – as the firm seeks to lure younger investors.The fund will trade in Hong Kong dollar, US dollar and yuan counters, tracking the London Bullion Market Association’s morning gold benchmark price through holdings of physical gold stored in Hong Kong vaults.“Its value is relatively independent because the underlying asset is the physical gold itself rather than exposure to a company or issuer, which makes it more attractive to investors,” said Don Ng, director of digital assets at ChinaAMC (HK), at a media briefing on Thursday.The launch comes as gold prices fluctuate amid geopolitical tensions and macroeconomic uncertainty, with investors shifting between safe-haven demand and pressure from a stronger US dollar. Physically backed gold ETFs in Hong Kong attracted a record US$732 million in inflows in April, according to the World Gold Council.The fund will trade in Hong Kong dollar, US dollar and yuan counters, tracking the London Bullion Market Association’s morning gold benchmark price through holdings of physical gold stored in Hong Kong vaults. Photo: Jelly TseFor most retail investors, the listed ETF will function like a traditional physically backed gold ETF traded on the stock exchange. The tokenised element currently applies only to the fund’s unlisted share class, which is built entirely on the Ethereum blockchain and accessible through regulated digital channels with a minimum investment starting from US$1.