Hong Kong Approves First Spot Solana ETF; Trading Set for October 27

Hong Kong's Securities and Futures Commission (SFC) has approved Asia's first spot Solana (SOL) exchange-traded fund (ETF), managed by ChinaAMC (Hong Kong), with trading scheduled to commence on October 27. This approval positions Hong Kong as the first jurisdiction in Asia to list a 100% spot Solana ETF, ahead of the US, and marks the third cryptocurrency-based spot ETF authorized in the city, following Bitcoin and Ethereum products. The ETF will be fully backed by physical Solana holdings, offering investors direct market exposure with a minimum investment threshold around $100. This move strengthens Hong Kong's ambition to be a regional crypto finance hub, building upon its earlier approvals of BTC and ETH spot ETFs in April 2024, and aligns with the government's "A-S-P-I-Re" roadmap for developing the virtual-asset ecosystem.

(Source：BeInCrypto)