Hong Kong’s first spot Solana ETF starts trading on Oct. 27

Hong Kong’s securities regulator has approved ChinaAMC's spot Solana exchange-traded fund (ETF), marking the first of its kind in the region. The ETF (3460) was authorized on October 17th and will be listed on the Hong Kong Stock Exchange on October 27th, with a management fee of 0.99% annually. It will be traded in Hong Kong dollars, Chinese yuan, and U.S. dollars. This approval comes as the U.S. SEC considers similar Solana ETF applications, having recently simplified the listing process for crypto ETFs. JPMorgan analysts predict modest inflows of around $1.5 billion for Solana ETFs in their first year, significantly less than Ethereum ETF inflows. As of the report, Solana was trading at $184.2, with a market capitalization of $100.6 billion.

(Source：The Block)