Hong Kong has officially approved Asia’s first Solana (SOL) spot exchange-traded fund (ETF), set to list on the Hong Kong Stock Exchange on October 27.
From BTC to ETH to SOL — a new phase of crypto ETFs
Over the past year, Hong Kong’s crypto ETF landscape has evolved from BTC and ETH to now include SOL. Issued by China Asset Management (Hong Kong) Limited (ChinaAMC HK), the Solana ETF (ticker 03460) marks the region’s first spot fund tracking a high-performance layer-1 chain beyond the usual blue-chips.
The approval underscores regulators’ confidence in Solana’s ecosystem stability — and Hong Kong’s ambition to cement itself as Asia’s regulated crypto finance hub. Unlike private funds limited to qualified investors, spot ETFs allow both institutions and retail participants to gain exposure to digital assets through a familiar securities framework.
Pressing Fast Forward on Regulation and Timing
While the U.S. SEC remains hesitant and Europe continues to experiment with sandbox policies, Hong Kong has opted for momentum over delay. Following months of stable operations from its BTC and ETH ETFs, the Securities and Futures Commission (SFC) swiftly approved the SOL product — a signal of confidence in the market’s risk controls and infrastructure.
The ETF is issued by ChinaAMC (HK) and supported by the OSL Exchange as its virtual-asset trading venue. OSL Digital Securities acts as sub-custodian under the main trustee BOCI-Prudential Trustee Ltd. It will trade in HKD (3460), RMB (83460), and USD (9460) — a multi-currency setup designed to make cross-border access simpler for both retail and institutional investors.
Inside the Structure
Each board lot contains 100 fund units, with an estimated minimum entry around US$100. The management fee stands at 0.99% per year, and the total expense ratio is capped around 1.99% — on par with existing BTC and ETH products.
As of late October 2025, Solana ranks #6 by market cap at roughly US$101 billion, behind BTC, ETH, USDT, BNB, and XRP. According to DefiLlama, its DeFi TVL sits around US$10.9 billion with roughly 2.4 million active addresses over 24 hours — showing real usage beyond price speculation.
A Signal Beyond the Ticker
This approval is more than just another ETF launch — it’s a sign that digital assets are entering a more institutionalized phase. Hong Kong has moved from BTC to ETH to SOL within just over a year, setting a new benchmark for Asia’s crypto-capital-market integration.
The next chapter? It will be told through trading volumes and liquidity. Would you consider adding a spot crypto ETF like this to your watchlist — or your portfolio?
