In Exchange Square, Central, Hong Kong, fund managers move briskly as the approval of Asia’s first Solana spot ETF once again puts this international financial center at the forefront of digital asset development.
The Hong Kong Securities and Futures Commission has recently officially approved Asia’s first Solana spot ETF, managed by China Asset Management (Hong Kong). The fund is scheduled to be listed on the Hong Kong Stock Exchange on October 27, 2025, with three currency counters: HKD, RMB, and USD.
This is another significant move in Hong Kong’s virtual asset financial innovation after approving spot bitcoin and ethereum ETFs earlier this year. This further consolidates Hong Kong’s status as Asia’s digital asset financial center and demonstrates the flexibility of its regulatory framework in terms of product diversity.
I. Core Product Details: Fee Structure and Trading Mechanism
According to the official website of China Asset Management (Hong Kong), the approved “ChinaAMC Solana ETF” will directly hold SOL tokens and passively track the performance of the CME CF Solana-USD Index (Asia Pacific closing price).
The fund offers investors three currency-denominated investment options. The fund explicitly states that it does not participate in staking, leverage, or derivatives trading, and all transactions are executed through virtual asset trading platforms licensed by the Hong Kong SFC (such as OSL Exchange).
ChinaAMC Solana ETF Core Elements
Element | Specific Arrangement |
Fund Management Fee | 0.99% per annum |
Maximum Subscription Fee | 5% |
Maximum Redemption Fee | 3% |
Trading Currencies | HKD, RMB, USD |
Minimum Investment Amount | Equivalent to 100 HKD/RMB, or 10 USD |
Distribution Policy | No dividend distribution |
Custody Arrangement | BOCI-Prudential Trustee Limited as the main custodian, OSL Digital Securities Limited as the virtual asset sub-custodian |
II. Global Regulatory Landscape: Policy Differences between Hong Kong and the United States
With the approval of the Solana spot ETF, Hong Kong is now at the forefront of global innovation in digital asset regulation, forming a sharp contrast with the United States.
● The US SEC has always taken a more cautious approach to cryptocurrency ETFs, with main concerns including market volatility, incomplete regulatory frameworks, and issues with asset storage and custody.
The SEC has particularly emphasized requirements for fund transparency, valuation and pricing issues, liquidity management, and storage and custody requirements.
Although the US SEC reformed the approval process for cryptocurrency ETFs in September 2025, shortening the approval period from 240 days to 75 days, it remains cautious about ETF applications for cryptocurrencies other than bitcoin, such as Solana.
Comparison of Regulatory Attitudes: Hong Kong vs. United States
Comparison Dimension | Hong Kong | United States |
Attitude towards Solana ETF | Actively approves, promotes innovation | Cautiously delays, focuses on risks |
Approval Efficiency | Faster, with a clear timetable | Longer process, possible delays |
Regulatory Focus | Product diversity and market development | Investor protection and market stability |
Staking Arrangement | Not included in the first batch of products | Explicitly excluded, regarded as potential securities |
Custody Requirements | Requires cooperation between main custodian and virtual asset sub-custodian | Emphasizes secure and reliable digital asset custodians |
III. Investment Value and Risks: High Volatility and Technical Risks Coexist
● From an investment perspective, Solana, as one of the world’s mainstream cryptocurrencies, has significant market influence. The Solana public chain boasts high throughput and low transaction fees, and has made notable progress in decentralized finance, NFT, and Web3 applications.
● However, China Asset Management (Hong Kong) clearly points out in its risk disclosure that investing in this ETF faces multiple risks. The historical volatility of SOL prices has always been extremely high—for example, the price of SOL fell by about 96% between November 7, 2021 and January 1, 2023.
● In addition, investors also face cybersecurity threats, network outages, and fork risks. The fund also involves risks related to virtual asset trading platforms, custody risks, and tracking error risks associated with the new index.
IV. Market Impact and Opportunities: Opening New Channels for Institutional Investment
● The launch of the ChinaAMC Solana ETF provides a compliant and convenient channel for traditional financial institutions to participate in the Solana ecosystem. This means investors can invest in SOL through familiar securities accounts without directly managing cryptocurrency wallets and private keys.
This move is expected to attract more institutional funds into the digital asset sector, further promoting the integration of digital assets and the traditional financial system.
● Industry analysts point out that after bitcoin and ethereum, Hong Kong’s expansion of ETF products to Solana indicates that its acceptance of digital assets has entered a diversified and in-depth stage.
● For the Asian market, this provides regional investors with more convenient digital asset investment channels and may change the current landscape of digital asset management in Asia.
V. Accelerated Financialization of Digital Assets
The approval of the Hong Kong Solana spot ETF is not only an innovation of a single product but also represents the major trend of digital asset financialization. As more types of digital assets are incorporated into regulatory frameworks, the integration of traditional financial systems and blockchain technology will deepen further.
From a regulatory perspective, Hong Kong’s move also provides a reference for other markets, demonstrating the possibility of balancing investor protection and innovation. In the future, we may see more diversified digital asset financial products emerge, further blurring the boundaries between traditional finance and digital assets.
