Гонконг стал первым в Азии, получившим одобрение спотового ETF на Solana Translation: Hong Kong Becomes the First in Asia to Approve Spot ETF for Solana

The Hong Kong Securities and Futures Commission (SFC) has granted approval for the region’s first spot ETF based on Solana. This information was reported by the Hong Kong Economic Times.

Trading for this product, managed by China Asset Management, is set to commence on October 27.

With this development, Solana becomes the third cryptocurrency, following Bitcoin and Ethereum, to receive approval for a spot ETF in Hong Kong.

The minimum investment is approximately $100, with one trading unit consisting of 100 shares. This instrument will be traded on the OSL Exchange, with custodial services provided by OSL Digital Securities.

The management fee for the fund is set at 0.99%, while storage and administrative expenses are capped at 1% of the net asset value. The total annual expense ratio stands at 1.99%, and no dividend payouts are expected.

Since the beginning of the year, the «people’s cryptocurrency» has decreased by 2.53%, in contrast to other major assets associated with ETFs.

At the time of writing, the asset is trading at around $184.

However, in terms of total locked value, the ecosystem based on the «people’s cryptocurrency» ranks just below Ethereum.

It is noteworthy that in the past year, Solana’s revenue reached $2.85 billion, with trading platforms serving as the primary source.