Hong Kong Launches Asia’s First Solana ETF — Outpacing the U.S.

In a major move to reinforce its position as a global digital asset hub, Hong Kong has approved its first exchange-traded fund (ETF) linked to Solana (SOL) — becoming the first market in Asia, and notably ahead of the United States, to do so.

The approval was granted by the Securities and Futures Commission (SFC) last week, allowing China Asset Management (Hong Kong) Ltd. (ChinaAMC HK) to launch the region’s first spot Solana ETF.
Following the approval, the firm began accepting investor subscriptions on Wednesday, with official trading set to commence on Monday.

According to its prospectus, the ETF is designed to deliver returns that closely mirror the performance of Solana, before accounting for management fees and expenses. Unlike derivative-based products, the fund holds Solana tokens directly, providing transparent exposure to the asset.

At the time of publication, SOL — the native token of the Solana blockchain — was trading at $194.35 with a market capitalization exceeding $100 billion, based on data from CoinGecko.

Founded in 2017, Solana gained prominence during the NFT boom of 2021, positioning itself as a strong rival to Ethereum due to its faster transactions and lower costs.

The ChinaAMC Solana ETF is the first in Asia and allows trading in Hong Kong dollars, Chinese yuan, and U.S. dollars.
While Canada launched the world’s first Solana ETF earlier this year, the United States is yet to approve any similar products.

Hong Kong’s digital asset ecosystem has been evolving rapidly, with the city approving six spot crypto ETFs — including those tied to Bitcoin and Ether — back in April 2024, overtaking the U.S. in crypto ETF innovation.

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Despite the optimism, ChinaAMC cautioned that Solana’s price could experience extreme volatility, noting that in 2022, the token suffered its largest single-day drop of over 42%.
The firm warned investors to remain aware that crypto markets carry high risk, and the value of Solana “could, in extreme cases, fall to zero.”

The launch underscores Hong Kong’s determination to stay at the forefront of digital finance, even as the sector faces tighter regulatory oversight from Beijing. Officials hope that initiatives like the Solana ETF will attract institutional capital and bolster investor confidence in the city’s crypto-friendly ecosystem.

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