The Hong Kong Securities and Futures Commission (SFC) has officially approved the first-ever Solana (SOL) spot exchange-traded fund (ETF), making Hong Kong the first market globally to sanction such a product.
The ETF, issued by China Asset Management (ChinaAMC) Hong Kong, joins the region’s earlier Bitcoin and Ethereum spot ETFs as the third regulated crypto investment product listed under Hong Kong’s growing virtual asset framework.

According to the Hong Kong Economic Times (HKET), the Solana ETF will debut on the Hong Kong Stock Exchange (HKEX) on October 27, marking a significant milestone for Asia’s crypto-friendly financial hub.

The product, officially named the China Solana ETF, will trade under RMB counter 83,460 and USD counter 9,460. It is managed by China Capital Fund (Hong Kong) and supported by OSL Exchange for trading, while OSL Digital Securities Co., Ltd. acts as the sub-custodian for the fund’s digital assets.

Fund Details: Management, Fees and Structure

The ETF will trade in lots of 100 units, with a minimum investment amount of roughly US$100 (HK$780), making it accessible to a broad range of investors.
Its management fee is set at 0.99%, with custody and administrative fees capped at 1% of the sub-fund’s net asset value, resulting in an estimated total annual expenditure ratio of around 1.99%.

Similar to other spot crypto ETFs approved in Hong Kong, the Solana ETF will not issue dividends. Instead, it follows an accumulation model, where returns are reflected in the ETF’s price appreciation rather than direct payouts.

The ETF’s introduction comes at a time when institutional interest in Solana is rising. Earlier this week, Solana officially adopted its Chinese name “Solara”, signalling a strategic push into Asia’s fast-expanding digital asset market.

HKEX Tightens Oversight Amid Crypto Expansion

While Hong Kong continues to position itself as a global hub for digital assets, regulators are also strengthening oversight to ensure stability and investor protection.
According to Bloomberg, the Hong Kong Stock Exchange is investigating several listed companies attempting to pivot their business models into “Digital Asset Treasury (DAT)” operations without proper authorization.

At least five companies are reportedly under scrutiny after seeking to rebrand themselves as DAT firms, a move that would allow them to hold cryptocurrencies as their main business activity. HKEX has clarified that such transformations violate listing rules, which require firms to maintain “viable, sustainable and substantial” business operations.

The exchange reaffirmed that non-operational crypto treasury models will not meet listing standards. Similar restrictions exist in India and Australia, where regulators have rejected attempts by listed entities to function as public crypto reserve companies.

This cautious stance reflects Hong Kong’s broader regulatory approach, balancing openness to crypto innovation with strict compliance and investor safeguards.

U.S. Solana ETF Progress Stalls Amid Government Shutdown

Across the Pacific, efforts to launch a Solana spot ETF in the United States have hit a temporary roadblock.
While the U.S. Securities and Exchange Commission (SEC) recently approved Form 8-A (12B) for 21Shares’ Solana ETF, formally registering it on the Cboe BZX Exchange, progress has stalled due to the ongoing U.S. government shutdown.

The delay affects S-1 filings, a critical step required before the ETF can begin trading. Without SEC review and approval, even previously cleared funds cannot launch. As a result, issuers, including Bitwise and Grayscale, have either amended or withdrawn their filings to avoid regulatory uncertainty.

Under U.S. law, these applications can technically take effect automatically after 20 days. However, in practice, the SEC must review and approve them before trading commences, leaving the American Solana ETF launch in limbo for now.

Gemini Expands Solana Integration with New Crypto Card

Adding to the momentum surrounding Solana, crypto exchange Gemini has unveiled a Solana-branded credit card featuring auto-staking rewards.
The new Solana Card offers up to 4% cashback in SOL, with rewards instantly credited and automatically staked through Gemini’s platform, earning users up to 6.77% APY.

This marks Gemini’s third crypto-linked card, joining its Bitcoin and XRP variants. The product rollout reflects growing consumer and institutional interest in Solana’s ecosystem, especially amid renewed ETF attention.

Market Outlook

As of publication, Solana (SOL) was trading at $184, consolidating below a key resistance level near $191. Data from TradingView shows a bearish-biased RSI of 40.9, suggesting mild downside momentum.
However, analysts note that selling pressure has weakened and sentiment may shift bullish as investor attention grows ahead of the ETF’s Hong Kong debut.

With the world’s first Solana Spot ETF launching later this month, Hong Kong continues to strengthen its position as a leader in regulated digital asset investment, even as U.S. markets grapple with political gridlock and regulatory inertia.