- ChinaAMC Solana (3460), the world’s first spot Solana ETF, has been authorized in Hong Kong and can commerce in Hong Kong {dollars}, Chinese language yuan, and U.S. {dollars}.
- The ETF will use OSL Digital Securities as sub-custodian and digital asset buying and selling platform, benefiting from the issuer’s present operational constructions for its Bitcoin and Ether ETFs.
- Hong Kong’s approval locations it forward of the U.S., the place spot Solana ETF approvals are delayed on account of a chronic authorities shutdown affecting the SEC.
The world’s first Solana (SOL) spot exchange-traded fund (ETF) has been authorized in Hong Kong, named ChinaAMC Solana (3460).
According to the Securities and Futures Fee (SFC), the fund will commerce in Hong Kong {dollars}, Chinese language yuan, and U.S. {dollars}, with a board lot of 100 shares per foreign money, making it the primary spot SOL product authorized within the area.
ChinaAMC set a 0.99% annual administration charge, appointed BOCI-Prudential Trustee as custodian, and named OSL Digital Securities as sub-custodian; OSL will even present the digital asset buying and selling 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 noticed, given the crowded menu of crypto ETFs and narrower institutional mandates for Solana publicity.
The authorisation lands as Beijing tightens coverage round digital belongings in Hong Kong. Crypto Information Australia reported that mainland authorities are instructing state-backed brokers to halt real-world-asset tokenisation pilots within the metropolis and urgent giant tech corporations to shelve stablecoin initiatives, principally narrowing the scope for on-platform experimentation whilst listed merchandise achieve traction.
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Hong Kong Strikes Forward of the US
In america, spot Solana approvals stay delayed because the SEC operates with minimal staffing throughout a chronic government shutdown, leaving product timelines unsure.
The SEC final month simplified crypto ETF pathways by adopting generic itemizing requirements that remove token-specific filings, a mechanical change that has accelerated new proposals, however not a assure of speedy approvals for SOL merchandise.
So long as the US authorities stays shut down (it’s been over 22 days now), all ETF functions must wait, as a result of all company work is halted till discover.
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