Hong Kong’s regulator has approved Asia’s first spot Solana ETF, signaling growing institutional interest in altcoin-based investment products.
The Hong Kong Securities and Futures Commission (SFC) has officially approved ChinaAMC’s spot Solana ETF, marking a major milestone for the region. According to ChinaAMC’s website, the product carries a 0.99% annual management fee. BOCI-Prudential Trustee Limited will serve as the main custodian, while OSL Digital Securities will act as the sub-custodian and provide trading infrastructure. The ETF will be traded in Hong Kong dollars, Chinese yuan, and U.S. dollars with a lot size of 100 shares per currency.
The Hong Kong approval comes as the U.S. Securities and Exchange Commission (SEC) faces growing anticipation over potential approvals for spot Solana and other altcoin ETFs. Although a decision was expected by October 10, it may have been delayed due to the U.S. government shutdown. Last month, the SEC introduced new standards simplifying ETF filings by removing token-specific application requirements, fueling a surge in crypto ETF proposals.
Analysts at JPMorgan estimate that Solana ETFs could attract around $1.5 billion in net inflows during their first year—roughly one-seventh of what Ethereum ETFs achieved in their debut year. They also noted that Solana’s DeFi total value locked (TVL) metrics show a similar proportional gap to Ethereum’s. At the time of writing, Solana is trading around $184.4.
