Wang Yi from CSOP Asset Management believes that the key to implementing tokenized products lies in creating a fully compliant closed loop of regulation, custody, trading platforms, and distribution channels. This time, the tokenization of the HKD Money Market ETF, using Ethereum, HSBC, and OSL for implementation, feels more like a case study of Hong Kong's RWA transitioning from pilot projects to compliant productization. When it comes to investment themes, he remains bullish on AI CAPEX: global capital continues to flow into the compute power, storage, electricity, and data center supply chain. The real challenge is identifying the segments that can absorb capital expenditure and consistently generate profits.