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Hong Kong’s Securities and Futures Commission approved the city’s first spot Solana ETF on Wednesday, with ChinaAMC’s product set to debut on the Hong Kong Stock Exchange on Monday, further widening the regulatory gap with the United States where no Solana ETF has been authorized.
The approval makes Hong Kong the fourth jurisdiction globally to greenlight a spot Solana ETF after Canada, Brazil and Kazakhstan, as the Asian financial hub continues positioning itself as a digital asset leader while US regulators remain.
The newly approved Spot Solana ETF will feature both RMB and USD counters allowing trading and settlement in either currency. Each trading unit will consist of 100 shares with a minimum investment of approximately $100. The fund is set to debut on Monday.
The ETF’s virtual asset trading platform will be operated by OSL Exchange while OSL Digital Securities will serve as sub custodian. ChinaAMC has set a management fee of 0.99% with custody and administrative fees capped at 1% of the sub fund’s net asset value resulting in a total annual expense ratio of about 1.99% for the Spot Solana ETF.
ChinaAMC (Hong Kong) is already recognized for pioneering Asia’s first Bitcoin and Ether spot ETFs earlier this year. With the launch of the Spot Solana ETF, Hong Kong continues to position itself as the region’s digital asset hub.
This latest Spot Solana ETF approval follows a global trend. Brazil was the first to introduce a Spot Solana ETF on its stock exchange last year. In April, Canada followed suit when the Ontario Securities Commission (OSC) approved Purpose, Evolve, CI and 3iQ to issue ETFs directly holding Solana.
More recently, Kazakhstan launched its own crypto product the Fonte Bitcoin Exchange Traded Fund (BETF) marking the nation’s first spot Bitcoin ETF on the Astana International Exchange.
The United States however, remains noticeably behind. Despite growing interest no Spot Solana ETF has yet received approval or launch confirmation from the U.S. Securities and Exchange Commission (SEC).
Bitwise Chief Investment Officer Matt Hougan believes Solana could soon become the backbone of global finance. Speaking with the Solana Foundation’s Akshay BD earlier this month, Hougan predicted that the Spot Solana ETF era could transform Wall Street.
He said traditional finance firms view Bitcoin as too abstract but see immense promise in stablecoins and tokenized real world assets both of which thrive on Solana’s high speed blockchain infrastructure.
According to Hougan, Solana’s performance advantages in speed, throughput and transaction finality make it the top choice for institutional investors and the Spot Solana ETF approval in Hong Kong only reinforces that narrative.
As jurisdictions like Hong Kong lead the charge, industry watchers believe that it’s only a matter of time before a Spot Solana ETF finally reaches U.S. markets.
