- ChinaAMC Solana (3460), the world’s first spot Solana ETF, has been approved in Hong Kong and will trade in Hong Kong dollars, Chinese yuan, and U.S. dollars.
- The ETF will use OSL Digital Securities as sub-custodian and virtual asset trading platform, benefiting from the issuer’s existing operational structures for its Bitcoin and Ether ETFs.
- Hong Kong’s approval places it ahead of the U.S., where spot Solana ETF approvals are delayed due to a prolonged government shutdown affecting the SEC.
The world’s first Solana (SOL) spot exchange-traded fund (ETF) has been approved in Hong Kong, named ChinaAMC Solana (3460).
According to the Securities and Futures Commission (SFC), the fund will trade in Hong Kong dollars, Chinese yuan, and U.S. dollars, with a board lot of 100 shares per currency, making it the first spot SOL product approved in the region.
ChinaAMC set a 0.99% annual management fee, appointed BOCI-Prudential Trustee as custodian, and named OSL Digital Securities as sub-custodian; OSL will also provide the virtual asset trading platform. The issuer already operates spot bitcoin and ether ETFs in Hong Kong, so operational plumbing, market-making relationships, and custody workflows are already in place.
JPMorgan estimates first-year inflows into US spot SOL funds at about US$1.5 billion (AU$2.33 billion), a smaller haul than Ether saw, given the crowded menu of crypto ETFs and narrower institutional mandates for Solana exposure.
The authorisation lands as Beijing tightens policy around digital assets in Hong Kong. Crypto News Australia reported that mainland authorities are instructing state-backed brokers to halt real-world-asset tokenisation pilots in the city and pressing large tech firms to shelve stablecoin initiatives, basically narrowing the scope for on-platform experimentation even as listed products gain traction.
Related: Crypto Selloff Driven by Native Investors, Not ETFs or Institutions, Says JPMorgan
Hong Kong Moves Ahead of the US
In the United States, spot Solana approvals remain delayed as the SEC operates with minimal staffing during a prolonged government shutdown, leaving product timelines uncertain.
The SEC last month simplified crypto ETF pathways by adopting generic listing standards that eliminate token-specific filings, a mechanical change that has accelerated new proposals, but not a guarantee of rapid approvals for SOL products.
As long as the US government remains shut down (it’s been over 22 days now), all ETF applications will have to wait, because all agency work is halted until notice.
Related: Australia Targets Crypto ATMs in New Crackdown on Money Laundering and Scams
Credit: Source link
