Hong Kong Approves Spot ETF on Solana: First in Asia, Outperforms US
Hong Kong marks a historic milestone by approving the first spot ETF on Solana (SOL) in Asia, making it the first jurisdiction to list a 100% spot fund on SOL.
Hong Kong's Securities and Futures Commission (SFC) has taken a historic step by approving the first spot exchange-traded fund (ETF) on Solana (SOL) in Asia.
This decision is not only significant news for the cryptocurrency market, but also marks a new and ambitious milestone in the city's efforts to cement its role as a regional financial hub for cryptocurrencies.
The ETF in question, which is managed by ChinaAMC (Hong Kong), is scheduled to begin trading on 27 October. For investors wishing to participate, the minimum investment threshold has been set at an affordable amount, hovering around $100.
The Expansion of Crypto Options ETF in Hong Kong
With this recent approval, the Solana-based product becomes the third cryptocurrency-based spot ETF to be authorised in the Hong Kong jurisdiction, joining the existing funds on Bitcoin (BTC) and Ethereum (ETH).
ChinaAMC has guaranteed that this new product will be fully backed by Solana's physical holdings. This approach, known as physical backing, will provide investors with direct, non-synthetic exposure to the market performance of the SOL token.
⚡ Solana Spot ETFs Are Heating Up
- 🔹 Early market traction: +$409 M net inflows so far - 📈 Last week's surge: +$156 M (week ending Oct 20) - 🔻 Small dip (-$4.5 M on Oct 21) - brief cooldown before the next wave? 🌏 Hong Kong's first SOL ETF launches Oct 27 - global... pic.twitter.com/ZUOWnD7eBw
This event puts Hong Kong in a leadership position, making it the first jurisdiction in all of Asia to list a 100 per cent physically backed spot ETF on Solana.
This regulatory move comes in advance of any comparable initiative in the US, where regulators have yet to give the green light to similar products.
Reinforcing Hong Kong's Role as Regional Crypto Hub
ChinaAMC (Hong Kong) already has considerable operational experience in the crypto ETF space, successfully managing spot funds for Bitcoin and Ethereum. The addition of a Solana-based product significantly expands the available offering.
Such diversification is crucial for institutional and retail investors looking to expand their portfolios beyond the largest-capitalisation tokens.
The Hong Kong government has demonstrated its commitment to this sector. As early as February 2025, it published its strategic roadmap called 'A-S-P-I-Re'.
This comprehensive plan outlined 12 specific measures across five key strategic pillars, all aimed at developing the virtual asset ecosystem.
Demonstrating this momentum, previously, in April 2024, Hong Kong had approved six ETF spots for Bitcoin and Ethereum, a record that made it the first Asian market to do so.
The latest approval on Solana is seen by observers as a significant extension of this propulsive momentum.
Industry analysts suggest that the ETF on Solana has the potential to specifically attract investors interested in exposure to a high-performing 'layer-1' blockchain.
The move also signals that Hong Kong continues to balance technological innovation with investor protection, a key factor in attracting further institutional interest in regional digital asset markets.
Updating the Price of Solana (SOL)
At the time of writing, the native token of Solana (SOL) was trading at a price of $186. Aggregated market data indicate that this remains significantly below its all-time high (ATH) reached in January 2025, which was around $295.
This represents an estimated overall drop of between 35% and 40% from its peak. Some market observers see ETF approval as a factor behind a modest rise in the SOL price over the past 24 hours.
Nevertheless, the fund's launch seems to have injected a new degree of interest and positive liquidity sentiment around the Solana ecosystem.
Grayscale suspends commissions on Solana Trust (GSOL) and offers 95% of staking revenues (7.23% p.a.) to attract institutional funds. Objective: the third crypto pillar.
While Bitcoin plummeted below $100,000 and Ethereum to $3,000, the meme coin on Solana, Jelly-My-Jelly (JELLYJELLY), experienced a record surge, reaching $0.50 and a capitalisation of $500 million.
TRUMP, the meme coin on Solana, soars 42%. The price touches $8.6. Accumulation by large holders, the listing of the Canary ETF and a bullish technical signal fuel optimism for November.
Hong Kong's Securities and Futures Commission (SFC) has taken a historic step by approving the first spot exchange-traded fund (ETF) on Solana (SOL) in Asia.
This decision is not only significant news for the cryptocurrency market, but also marks a new and ambitious milestone in the city's efforts to cement its role as a regional financial hub for cryptocurrencies.
The ETF in question, which is managed by ChinaAMC (Hong Kong), is scheduled to begin trading on 27 October. For investors wishing to participate, the minimum investment threshold has been set at an affordable amount, hovering around $100.
The Expansion of Crypto Options ETF in Hong Kong
With this recent approval, the Solana-based product becomes the third cryptocurrency-based spot ETF to be authorised in the Hong Kong jurisdiction, joining the existing funds on Bitcoin (BTC) and Ethereum (ETH).
ChinaAMC has guaranteed that this new product will be fully backed by Solana's physical holdings. This approach, known as physical backing, will provide investors with direct, non-synthetic exposure to the market performance of the SOL token.
This event puts Hong Kong in a leadership position, making it the first jurisdiction in all of Asia to list a 100 per cent physically backed spot ETF on Solana.
This regulatory move comes in advance of any comparable initiative in the US, where regulators have yet to give the green light to similar products.
Reinforcing Hong Kong's Role as Regional Crypto Hub
ChinaAMC (Hong Kong) already has considerable operational experience in the crypto ETF space, successfully managing spot funds for Bitcoin and Ethereum. The addition of a Solana-based product significantly expands the available offering.
Such diversification is crucial for institutional and retail investors looking to expand their portfolios beyond the largest-capitalisation tokens.
The Hong Kong government has demonstrated its commitment to this sector. As early as February 2025, it published its strategic roadmap called 'A-S-P-I-Re'.
This comprehensive plan outlined 12 specific measures across five key strategic pillars, all aimed at developing the virtual asset ecosystem.
Demonstrating this momentum, previously, in April 2024, Hong Kong had approved six ETF spots for Bitcoin and Ethereum, a record that made it the first Asian market to do so.
The latest approval on Solana is seen by observers as a significant extension of this propulsive momentum.
Industry analysts suggest that the ETF on Solana has the potential to specifically attract investors interested in exposure to a high-performing 'layer-1' blockchain.
The move also signals that Hong Kong continues to balance technological innovation with investor protection, a key factor in attracting further institutional interest in regional digital asset markets.
Updating the Price of Solana (SOL)
At the time of writing, the native token of Solana (SOL) was trading at a price of $186. Aggregated market data indicate that this remains significantly below its all-time high (ATH) reached in January 2025, which was around $295.
This represents an estimated overall drop of between 35% and 40% from its peak. Some market observers see ETF approval as a factor behind a modest rise in the SOL price over the past 24 hours.
Nevertheless, the fund's launch seems to have injected a new degree of interest and positive liquidity sentiment around the Solana ecosystem.
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