The Hong Kong Securities and Futures Commission has approved the first Solana (SOL) spot exchange-traded fund, expanding the city’s roster of regulated cryptocurrency investment products. The approval makes Solana the third cryptocurrency to receive a spot ETF in Hong Kong, following Bitcoin and Ethereum. The new fund, named the China Asset Management (Hong Kong) Solana ETF (03460), will be managed by China Asset Management (Hong Kong).
According to the Hong Kong Stock Exchange, the ETF includes renminbi counters (83460) and U.S. dollar counters (9460). It will be available for trading beginning October 27, with each trading unit set at 100 and a minimum investment amount of about US$100, or roughly HK$780. The approval marks the first Solana spot ETF in Asia and the first such product to be offered on a U.S. exchange platform, underscoring Hong Kong’s growing role as a regulated hub for virtual asset investment vehicles.
Details of Fund Management and Structure
Brokerage disclosures show that OSL Exchange will serve as the virtual asset trading platform for the ChinaAMC Solana ETF, while OSL Digital Securities Co., Ltd. will act as the virtual asset sub-custodian. The fund carries a management fee of 0.99%, and its custody and administrative fees are capped at 1% of the sub-fund’s net asset value.
ChinaAMC estimates the ETF’s annual recurring expense ratio at approximately 1.99%. The product will not pay dividends to shareholders, with any income or gains expected to be reinvested. China Asset Management (Hong Kong) has previously launched both Bitcoin and Ethereum spot ETFs in Hong Kong, indicating continued institutional interest in expanding the city’s digital asset offerings within its regulated framework.
Solana’s Market Role and Characteristics
Solana, currently the sixth-largest cryptocurrency by market capitalization, serves as the native token for the open-source, decentralized Solana network. The network enables peer-to-peer transactions and supports a wide range of blockchain-based applications.
China Asset Management has assigned the cryptocurrency a new Chinese name, “Solala,” for local investors. The firm explained that the value of SOL is determined entirely by market forces on exchanges that facilitate trading, rather than by any backing from governments or corporations.
The introduction of the Solana ETF follows a period of increasing regulatory clarity for digital assets in Hong Kong. By extending ETF access to another major blockchain asset, regulators appear to be signalling continued confidence in the city’s capacity to manage cryptocurrency-linked financial products within an established oversight framework.
