Hong Kong has taken another step toward broader cryptocurrency adoption. The local Securities and Futures Commission has approved the first spot ETF focused on the Solana (SOL) cryptocurrency. The new fund is managed by China Asset Management (Hong Kong) and will begin trading on the Hong Kong Stock Exchange on Monday.

Solana ETF accessible to retail investors

According to the Hong Kong Economic Times, the fund will be tradable in both U.S. dollars (USD) and Chinese yuan (RMB). Each trading unit will consist of 100 shares, bringing the minimum entry investment to around 100 dollars – a sum affordable even for everyday investors. The fund will trade on the OSL Exchange platform, with OSL Digital Securities managing the crypto assets. The management fee is 0.99%, and the total annual expenses are estimated at around 1.99%.

Hong Kong aims to be Asia’s crypto hub

Hong Kong has already made headlines with its Bitcoin and Ethereum ETF launches, and now it’s adding another cryptocurrency – reinforcing its position as one of Asia’s most open and progressive digital asset markets. Other countries are following a similar path: Brazil launched its Solana ETF last year, Canada approved several Solana funds in April, and Kazakhstan introduced its first Bitcoin ETF. The United States, however, has yet to approve any Solana ETF despite growing investor interest.

Solana rising to the top

While Bitcoin is often called “digital gold,” Solana is earning a reputation as a fast and low-cost network suited for modern financial applications.
According to Matt Hougan, Chief Investment Officer at Bitwise, Solana has the potential to become a leading technology for stablecoins and real-world asset tokenization – such as stocks, bonds, or real estate in digital form. “Traditional finance is beginning to understand that Solana could be the new Wall Street,” Hougan said.

Why it matters

The approval of a Solana ETF in Hong Kong allows investors to gain exposure to this cryptocurrency through a regulated financial product, similar to stocks or commodities. It not only boosts confidence in the crypto markets but also signals that cryptocurrencies are becoming a normal part of global finance.

Sources:

https://inews.hket.com/article/4025751/加密貨幣｜香港首家Solana%20ETF獲批%E3%80%80成比特幣以太幣外另一加密貨幣現貨ETF

https://cointelegraph.com/news/hong-kong-approves-first-solana-spot-etf