Hong Kong has made history by approving the world's first Solana (SOL) spot Exchange-Traded Fund (ETF), issued by ChinaAMC (Hong Kong). This marks the third crypto fund approved under the Chinese special jurisdiction’s virtual asset framework, following earlier spot ETFs for Bitcoin and Ethereum.
The China Solana ETF is managed by China Capital Fund (Hong Kong) and is scheduled to debut on October 27 on the Hong Kong Stock Exchange. It will trade in both RMB (83,460) and US dollar (9,460) counters, with a low minimum investment of about US$100 or HK$780. The fund will utilize the OSL Exchange for virtual asset trading and OSL Digital Securities Co., Ltd. for custody. Investors should note the expected annual expenditure ratio of about 1.99% (including a 0.99% management fee) and that the fund will not issue dividends.
Across the Pacific, regulatory progress for a Solana ETF in the United States has been temporarily stalled despite some initial steps. The US Securities and Exchange Commission (SEC) had approved the Form 8-A (12B) filing for a Solana ETF by 21Shares, which formally registered the fund on the Cboe BZX exchange.
However, the required S-1 filings have been put on hold due to the ongoing US government shutdown. Without the S-1 review, no new funds—including Solana and other spot crypto ETFs—can officially launch and begin trading, causing several issuers like Bitwise and Grayscale to withdraw or amend their applications.
While embracing regulated crypto ETFs, the Hong Kong Stock Exchange (HKEX) is simultaneously tightening oversight on other companies. The HKEX is reportedly cracking down on at least five listed firms attempting to rebrand as "Digital Asset Treasury" (DAT) companies.
HKEX rules prohibit listed entities from transforming into businesses whose sole purpose is accumulating or holding digital assets. A spokesperson emphasized that all applicants and listed companies must have "viable, sustainable, and substantial" business operations, stating that non-operational business models will not meet listing standards.
October 2025, Cryptoniteuae