Hong Kong Expands Its Crypto ETF Arsenal

Hong Kong has officially approved its first spot Solana (SOL) exchange-traded fund, becoming the latest jurisdiction to embrace direct exposure to the network’s native token. The approval positions the city even further ahead of the United States, where regulators have yet to authorize a single Solana-based ETF.

According to the Hong Kong Economic Times, the Securities and Futures Commission (SFC) granted approval to China Asset Management (Hong Kong) for its Solana ETF, which will list on the Hong Kong Stock Exchange (HKEX).

The product offers dual counters in both RMB and USD, allowing investors to trade and settle in either currency. Each unit represents 100 shares and carries a minimum entry of roughly $100. The ETF is expected to debut Monday, expanding Hong Kong’s lineup of regulated crypto investment products.

The ETF’s virtual asset trading operations will run on OSL Exchange, with OSL Digital Securities acting as sub-custodian. ChinaAMC set a management fee of 0.99%, while custody and administrative costs are capped at 1% of the fund’s net asset value, resulting in an estimated annual expense ratio of 1.99%.

The move cements ChinaAMC’s growing reputation as a first mover in Asia’s crypto ETF market — following its earlier launches of Bitcoin and Ethereum spot ETFs, both approved earlier this year.

A Global Trend — and a U.S. Lag

Hong Kong’s approval follows a broader global shift toward regulated spot crypto ETFs. Brazil became the first country to introduce a spot Solana ETF last year, followed by Canada, where the Ontario Securities Commission (OSC) approved similar products from Purpose, Evolve, CI, and 3iQ in April.

Even Kazakhstan has entered the scene, recently launching its first spot Bitcoin ETF on the Astana International Exchange, with BitGo serving as custodian.

By contrast, the United States — still the world’s largest capital market — has yet to approve any Solana ETF, despite growing institutional appetite and precedent-setting approvals for Bitcoin and Ethereum funds.

Industry leaders argue that Solana’s technological edge could make it Wall Street’s next favorite blockchain. Matt Hougan, CIO at Bitwise Asset Management, said earlier this month that Solana’s speed, throughput, and transaction finality give it a clear advantage for stablecoin settlement and real-world asset (RWA) tokenization.

“Traditional finance sees Bitcoin as too abstract. But stablecoins and tokenized assets on Solana? That’s the new Wall Street.”

Hougan’s remarks underscore how institutions are shifting focus from speculative crypto trading to blockchain-based financial infrastructure — an area where Solana’s performance and scalability have become key differentiators.

Hong Kong’s Regulatory Edge

With this latest approval, Hong Kong now hosts spot ETFs for Bitcoin, Ethereum, and Solana, solidifying its ambition to become Asia’s digital asset hub. The city’s progressive yet regulated approach contrasts sharply with the United States’ fragmented and risk-averse framework.

As the global race for digital asset adoption accelerates, Hong Kong’s proactive stance could attract capital, talent, and liquidity that might otherwise flow through U.S. markets — unless Washington acts soon.

Here at Coinlive, we think Hong Kong’s Solana ETF approval isn’t just another listing — it’s a strategic statement. It signals the city’s intent to dominate Asia’s institutional crypto narrative while the U.S. remains mired in regulatory hesitation.

If Solana truly becomes the backbone of tokenized finance, Hong Kong may have just secured its front-row seat in the next chapter of blockchain-driven capital markets.