Hong Kong beats the US to launch spot Solana ETF — US SEC delays decision on similar applications due to federal shutdown.
The Hong Kong Securities and Futures Commission (SFC) has approved the launch of the city's first spot ETF on Solana, managed by ChinaAMC. Trading will commence on October 27 on the Hong Kong Stock Exchange (HKEX) under the tickers 3460 (HKD), 83460 (RMB), and 9460 (USD).
The fund will invest exclusively in SOL and track the CME CF Solana-USD Index, based on the APAC reference rate. It will not stake tokens, which reduces operational risks but excludes passive income.
Such an ETF could attract both retail investors in Asia, where Solana is popular thanks to dApps and high network speeds, and institutional investors seeking regulated channels for accessing altcoins.
This decision marks the expansion of Hong Kong's regulated crypto market beyond Bitcoin and Ether — despite increasing scrutiny from mainland China, including a ban on private stablecoins and the tokenization of real assets.
The Hong Kong Securities and Futures Commission (SFC) has approved the launch of the city's first spot ETF on Solana, managed by ChinaAMC. Trading will commence on October 27 on the Hong Kong Stock Exchange (HKEX) under the tickers 3460 (HKD), 83460 (RMB), and 9460 (USD).
The fund will invest exclusively in SOL and track the CME CF Solana-USD Index, based on the APAC reference rate. It will not stake tokens, which reduces operational risks but excludes passive income.
Such an ETF could attract both retail investors in Asia, where Solana is popular thanks to dApps and high network speeds, and institutional investors seeking regulated channels for accessing altcoins.
This decision marks the expansion of Hong Kong's regulated crypto market beyond Bitcoin and Ether — despite increasing scrutiny from mainland China, including a ban on private stablecoins and the tokenization of real assets.