Hong Kong’s push to become Asia’s premier hub for regulated digital assets reached a new milestone today as its securities regulator approved the city’s first Solana (SOL) spot exchange-traded fund (ETF). The approval by the Securities and Futures Commission (SFC) makes Solana the third cryptocurrency, following Bitcoin and Ethereum, to receive clearance for a spot ETF in the territory.
The product, managed by China Asset Management (Hong Kong), one of the city’s largest fund managers, is scheduled to begin trading on October 27, said a news report by Hong Kong Economic Times. China Asset Management already offers Bitcoin and Ethereum spot ETFs and its new offering marks the first SOL-based fund to be available in both Asia and the U.S.
The new ETF is designed to be accessible to a wide range of investors. Brokerage filings indicate the minimum investment is set at approximately $100 (roughly HK$780), with each trading unit consisting of 100 shares.
Key fund details include Trading Platform: OSL Exchange, Custody and Settlement: OSL Digital Securities, Management Fee: 0.99%, Estimated Annual Recurring Expense Ratio: 1.99%, and the fund is not expected to distribute dividends.
Solana, currently the sixth-largest cryptocurrency by market capitalization at about $100.8 billion (CoinGecko data), is known for its speed and scalability.
The Hong Kong approval comes amid growing global momentum for Solana-based investment products. In the United States, a 21Shares Solana Spot ETF received an initial green light earlier this month following the clearance of its Form 8-A filing with the SEC, allowing it to custody SOL and trade on a major American exchange.
The U.S. product, which offers direct exposure to Solana’s spot price, is also expected to potentially include staking features—a development that could significantly boost institutional demand. Analysts forecast the token could see a rally toward $300 if investor interest continues to climb.
Several other major asset managers, including VanEck, Bitwise, Grayscale, Franklin Templeton, Fidelity, and CoinShares, have also received approval for their own Solana spot ETF proposals, with listings in the U.S. market expected to follow soon.
