TL,DR
- Hong Kong’s SFC authorized the spot Solana (SOL) ETF from issuer ChinaAMC.
- The fund (Ticker 3460) will debut on the Hong Kong Stock Exchange on Monday, October 27.
- Solana becomes the third cryptocurrency, after Bitcoin and Ethereum, to have a spot ETF in the region.
Hong Kong has taken a significant step in the institutional adoption of crypto assets, consolidating its position as a digital asset hub in the region. The jurisdiction’s Securities and Futures Commission (SFC) has officially approved the first spot Solana ETF in Asia, marking a milestone for the ecosystem of the so-called “Ethereum killer.”
This development positions Solana (SOL) as the third cryptocurrency to obtain a spot exchange-traded investment product on the continent, following in the footsteps of similar Bitcoin and Ethereum funds previously approved. The decision highlights growing regulatory and institutional confidence in diversifying digital assets beyond the two main cryptocurrencies.
The product will be issued by ChinaAMC (Hong Kong), a prominent asset management firm. According to the filed documents and official information, the ETF will begin trading formally on the Hong Kong Stock Exchange next Monday, October 27.
Operational Details and Custodians of the New ETF
The fund, which becomes the first Solana ETF in Asia, will trade under the ticker 3460. One of its key features is accessibility, as it will be available for trading in three different currencies: Hong Kong dollars (HKD), Chinese yuan (CNY), and U.S. dollars (USD). This multi-currency structure aims to attract a broader base of investors, both local and international.
Regarding the cost and security structure, the fund will have an annual management fee of 0.99%. For the safeguarding of the assets, BOCI-Prudential Trustee Limited has been designated as the main custodian. Acting as sub-custodian and trading platform provider will be OSL Digital Securities, a well-known firm in Hong Kong’s digital asset space. Trading will be structured in lots of 100 shares per currency.
The approval in Hong Kong comes as investors in the West, particularly in the United States, await similar decisions. The U.S. Securities and Exchange Commission (SEC) recently delayed its ruling on spot Solana ETF applications, a delay attributed to the government shutdown earlier this month.
JPMorgan analysts have projected that, if approved globally, Solana ETFs could attract around $1.5 billion in inflows during their first year. This estimate is approximately one-seventh of Ethereum’s flows, a difference the bank attributes to Solana’s DeFi (decentralized finance) ecosystem, which, although growing, is relatively smaller than Ethereum’s.
