coindesk.com
Hong Kong's Securities and Futures Commission (SFC) has approved the territory's first solana $SOL$184.46 spot exchange-traded fund (ETF), extending its crypto ETF offerings beyond bitcoin BTC$108,143.41 and ether ETH$3,857.97.
The ChinaAMC Solana ETF (03460) will begin trading on the Hong Kong Stock Exchange on Oct. 27 under three currency counters — HKD (3460), RMB (83460), and USD (9460). Each lot will represent 100 $SOL.
ChinaAMC already operates spot bitcoin and ether ETFs in Hong Kong, which were among the first of their kind in Asia.
U.S. regulators are delayed in approving a solana ETF, as the Securities and Exchange Commission (SEC) is currently operating with minimal staff, owing to a prolonged government shutdown.
In the U.S., JPMorgan expects Solana spot ETFs to attract around $1.5 billion in first-year inflows, a modest amount compared to their ether counterparts, due to so many other crypto ETFs already on the market.