Hong Kong approves its first spot Solana ETF ahead of US
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Hong Kong joins Canada, Brazil and Kazakhstan in approving a spot Solana ETF, further widening the gap with the US, which has yet to authorize one.
Hong Kong has officially approved its first Solana spot exchange-traded fund (ETF), marking the third crypto spot ETF approved by the city after Bitcoin and Ethereum.
On Wednesday, the Hong Kong Securities and Futures Commission (SFC) granted approval for the China Asset Management (Hong Kong) Solana ETF, which will be listed on the Hong Kong Stock Exchange, according to a report by the Hong Kong Economic Times.
The product will include both RMB counters and USD counters, meaning it can be traded and settled in both currencies. Each trading unit will consist of 100 shares, with a minimum investment of around $100. The fund is expected to debut on Oct. 27.
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