According to TheBlock, the Hong Kong Securities Supervision Commission (SFC) released a new roadmap on the 19th, planning to launch 12 new initiatives including crypto ETF pledging. The Hong Kong Securities Supervision Commission is actively negotiating with compliance trading platforms on ETF pledging, tokenized money market funds and Earn functions. According to Alessio Quaglini, CEO of Hex Trust, institutional pledging will be a key area of focus in 2025. GaryTiu, executive director of licensed trading platform OSL, said there is growing demand from clients for income products and derivatives.