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

Hong Kong's securities regulator recently approved ChinaAMC's spot Solana exchange-traded fund, which is scheduled to be listed next Monday.

According to the Securities and Futures Commission's (SFC) official website, the ChinaAMC Solana ETF (3460) was authorized by the agency on Oct. 17, making it the first of its kind to be approved in the region.

ChinaAMC's website shows that the product will be listed on Oct. 27, with a management fee of 0.99% per year. Its main custodian is BOCI-Prudential Trustee Limited, and its sub-custodian is OSL Digital Securities. OSL also provides the virtual asset trading platform for the product, according to ChinaAMC.

The product will be traded in Hong Kong dollars, Chinese yuan and U.S. dollars on the Hong Kong Stock Exchange, with a trading board lot size of 100 shares per each currency.

The Hong Kong approval arrives amid expectations that the U.S. Securities and Exchange Commission (SEC) may soon approve its first batch of spot Solana and other altcoin ETFs. While a sign-off was initially expected by the Oct. 10 deadline, the decision was likely delayed due to the extended U.S. government shutdown.

Last month, the SEC recently simplified the process by introducing generic listing standards, removing the need for token-specific filings — a change that has led to a surge in new crypto ETF proposals.

Analysts at JPMorgan said earlier this month that they expect only around $1.5 billion in net inflows in Solana ETFs in their first year, roughly one-seventh the size of Ethereum ETF inflows during their first year.

"A similar ratio emerges if one looks at the relative size of Solana's DeFi TVL to that of Ethereum," the analysts wrote.

According to The Block's crypto price page, Solana is trading at $184.2, down 0.28% in the past 24 hours, and holds a market capitalization of $100.6 billion as the sixth-largest cryptocurrency in the world.