Hong Kong Beats US to Launch First Spot Solana ETF
US regulators fall behind again
Hong Kong has officially approved its first spot Solana exchange-traded fund (ETF), becoming the first region in the world outside Brazil and Canada to do so, once again outpacing the United States in the race for crypto-backed investment products.
The Hong Kong Securities and Futures Commission (SFC) has given the green light to the China Asset Management (Hong Kong) Solana ETF, which will list on the Hong Kong Stock Exchange. The ETF will be available in both Chinese yuan and US dollar counters, allowing investors to trade and settle in either currency. Each trading unit will represent 100 shares, with a minimum entry of about $100. The product is scheduled to launch on Monday.
The Solana ETF will be operated on OSL Exchange, with OSL Digital Securities acting as sub-custodian. ChinaAMC has set a management fee of 0.99%, while custody and administrative costs are capped at 1% of the fund’s net asset value, bringing the estimated annual expense ratio to around 1.99%.
ChinaAMC previously made headlines for launching Asia’s first spot Bitcoin and Ethereum ETFs earlier this year, solidifying Hong Kong’s position as the region’s hub for regulated crypto investment products.
Globally, Brazil was the first to launch a Solana ETF, followed by Canada, where regulators approved similar funds by Purpose, Evolve, CI, and 3iQ. Meanwhile, Kazakhstan recently entered the space with its first spot Bitcoin ETF.
In contrast, the United States has yet to approve a Solana spot ETF. Bitwise CIO Matt Hougan recently called Solana “the new Wall Street,” citing its transaction speed and scalability as key reasons institutional investors are eyeing it for stablecoin and real-world asset tokenization.
