Hong Kong has approved its first Solana spot exchange-traded fund (ETF), expanding the city’s offerings in the digital asset space. The approval comes from the Securities and Futures Commission (SFC), making it the third crypto spot ETF cleared in Hong Kong, following earlier listings for Bitcoin and Ethereum.
The fund, managed by China Asset Management (Hong Kong), will be listed on the Hong Kong Stock Exchange. It is scheduled to begin trading on October 27. According to local media reports, the ETF will offer both RMB and USD trading counters. Each trading unit will consist of 100 shares, and the minimum investment is expected to be around $100.
Product Structure and Service Providers
The Solana ETF will operate with a management fee of 0.99%. Custody and administrative costs are capped at 1% of the fund’s net asset value. This brings the estimated total annual expense ratio to 1.99%.
The trading platform will be provided by OSL Exchange. OSL Digital Securities will act as the sub-custodian. These firms are already involved in Hong Kong’s existing crypto ETF products.
ChinaAMC has already launched spot ETFs for Bitcoin and Ethereum earlier this year. With the approval of the Solana ETF, the firm adds another product to its regulated crypto investment range in the region.
Growing International Momentum Around Solana ETFs
Hong Kong’s decision follows earlier moves by other jurisdictions. Brazil was the first country to approve and list a Solana spot ETF in 2023. In April this year, regulators in Canada also gave approval for multiple Solana-based ETFs, allowing asset managers such as Purpose and 3iQ to offer products tied to Solana’s price.
More recently, Kazakhstan launched its first spot Bitcoin ETF, listed on the Astana International Exchange. Custody for that product is provided by BitGo. These moves show that global interest in regulated digital asset funds continues to grow.
In contrast, no Solana spot ETF has yet been approved in the United States.
Institutional Views on Solana’s Role in Finance
Bitwise CIO Matt Hougan recently commented on the role Solana could play in the financial sector. Speaking with Akshay BD of the Solana Foundation, Hougan said Solana may become a key platform for real-world asset tokenization and stablecoin infrastructure.
He noted that some investors see Bitcoin as “too abstract” and are focusing more on use cases tied to payments and traditional markets. “Solana is the new Wall Street,” Hougan said, referring to the blockchain’s speed and capacity as reasons why institutions are evaluating it.
