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Hong Kong Strengthens Its Lead in Crypto ETFs with Solana Approval
Hong Kong Beats the U.S. Again – In a major move for crypto adoption in Asia, Hong Kong has approved its first spot Solana ETF, making it the third spot cryptocurrency exchange-traded fund (ETF) approved by the city, following earlier approvals for Bitcoin and Ethereum ETFs.
On Wednesday, the Hong Kong Securities and Futures Commission (SFC) gave the green light to the China Asset Management (Hong Kong) Solana ETF, which will be listed on the Hong Kong Stock Exchange, according to the Hong Kong Economic Times.
Multi-Currency Trading and Low Entry Cost
The new ETF will support both RMB and USD trading and settlement, offering flexibility for a wider range of investors. Each trading unit will comprise 100 shares, with a minimum investment of around $100 USD. The fund is scheduled to launch this coming Monday.
OSL Exchange will operate the ETF’s virtual asset trading platform, while OSL Digital Securities will act as the sub-custodian. The ETF will carry a management fee of 0.99%, with custody and admin fees capped at 1%, bringing the total estimated annual expense ratio to 1.99%.
Hong Kong Solidifies Position in Global Crypto ETF Race
ChinaAMC has already made waves by launching Asia’s first Bitcoin and Ethereum spot ETFs earlier this year. With this latest Solana ETF, Hong Kong is positioning itself as a leader in regulated digital asset investment products.
Other countries have also jumped on the Solana ETF trend. Brazil was the first to launch a spot Solana ETF, followed by Canada in April with approvals from the Ontario Securities Commission. Recently, Kazakhstan debuted its first spot Bitcoin ETF, showing that the global race for crypto ETF leadership is heating up — while the U.S. still lags behind, with no approved Solana ETF to date.
Wall Street’s Solana Moment?
According to Matt Hougan, CIO of Bitwise, Solana could become Wall Street’s go-to blockchain, particularly for stablecoins and real-world asset tokenization. With its high speed, low latency, and fast transaction finality, Hougan believes institutional investors may increasingly look to Solana for next-gen financial infrastructure.
