Hong Kong Greenlights First-Ever Spot SOL ETF: Trading Begins Within A Week

Core Insights - The world's first Solana spot exchange-traded fund (ETF) has been approved in Hong Kong, making Solana the third cryptocurrency to receive such regulatory approval after Bitcoin and Ethereum [1][2]. Group 1: ETF Details - The newly approved ChinaAMC Solana ETF will begin trading on October 27, 2025, and will be available in three currency options: Hong Kong Dollar (HKD 3,460), Chinese Yuan (RMB 8,346), and US Dollar (USD 9,460) [2]. - Each trading unit of the Solana ETF will consist of 100 SOL shares, with a management fee of 0.99% and capped custody and administrative expenses at 1% [4]. Group 2: Market Impact and Future Expectations - Following the approval, Solana's trading price is currently at $182.94, having reached a peak of $197.26 shortly after the news [2]. - There is significant anticipation for the approval of a Solana ETF in the US, with expectations that it may be granted soon, potentially driving Solana's price towards $300 [5]. - The approval of the Solana ETF in Hong Kong follows the recent approval of staked SOL ETFs in Canada, indicating a growing acceptance of Solana-related investment products [6].