Hong Kong’s Securities and Futures Commission (SFC) has approved the territory’s first Solana. Spot Exchange-Traded Fund (ETF), is expanding its crypto ETF offering beyond Bitcoin and ether ,
ChinaMC Solana ETF (03460) will begin trading on October 27 on the Hong Kong Stock Exchange under three currency counters – HKD (3460), RMB (83460), and USD (9460). Each lot will represent 100 SOL.
ChinaMC already operates spot Bitcoin and Ether ETFs in Hong Kong, which were among the first ETFs of their kind in Asia.
US regulators are delayed in approving the Solana ETF, as the Securities and Exchange Commission (SEC) is currently operating with minimal staff due to the prolonged government shutdown.
In the US, JPMorgan expects Solana spot ETFs to attract around $1.5 billion in investments in the first year, a modest amount compared to their ether counterparts, as there are already several other crypto ETFs on the market.