Hong Kong just greenlit its first Solana spot ETF, making it the third crypto after Bitcoin and Ethereum to get approved for exchange-traded fund trading in the city. China Asset Management Hong Kong will manage the product, which starts trading on October 27th, according to local reports.
The approval shows Hong Kong’s serious about becoming Asia’s main crypto hub. They’re making it accessible too; each trading unit costs around $100 (HK$780), consisting of 100 shares, targeting retail investors rather than just institutions.
The fund will trade on the OSL Exchange with custody handled by OSL Digital Securities. Management fees sit at 0.99%, while custody and admin costs are capped at 1% of net asset value. Total annual expenses come to about 1.99%, and don’t expect any dividend payouts.
China Asset Management already runs Bitcoin and Ethereum ETFs in Hong Kong, so adding Solana makes sense. This marks the first Solana ETF in both the Asian and US markets.
Meanwhile, Solana ETF momentum is building globally. The 21Shares Solana Spot ETF in America got SEC approval earlier this month after clearing its Form 8-A filing. That product might even include staking features, which could really drive institutional demand.
Other major players like VanEck, Bitwise, Grayscale, Fidelity, and Franklin Templeton also got their Solana ETF proposals approved, with listings coming soon. Some analysts think all this institutional interest could push Solana toward $300.
Conclusion
Hong Kong approved the first Solana spot ETF managed by China Asset Management starting October 27th trading, with a $100 minimum investment, as global Solana ETF approvals accelerate.
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