Hong Kong Approves Third Spot Crypto ETF for Solana

Hong Kong's Securities and Futures Commission has given approval for the China Asset Management Solana exchange-traded fund, marking the third spot crypto ETF to be authorized by the city. This follows earlier approvals for Bitcoin and Ethereum products.

The fund will be listed on the Hong Kong Stock Exchange with an expected debut on Monday and offers both Chinese yuan and U.S. dollar counters, enabling trading and settlement in both currencies.

Each trading unit consists of 100 shares with a minimum investment requirement of approximately $100, making the fund accessible to a broad range of investors seeking exposure to the Solana blockchain network.

OSL Exchange will operate the ETF's virtual asset trading platform, while OSL Digital Securities serves as sub-custodian. ChinaAMC has established a management fee of 0.99%, with custody and administrative fees capped at 1% of the sub-fund's net asset value, resulting in an estimated annual expense ratio of 1.99%.