Hong Kong traders will quickly entry Solana through ChinaAMC’s first spot ETF, which joins the corporate’s current Bitcoin and Ethereum ETFs.
Hong Kong’s monetary regulator has granted approval for ChinaAMC’s spot Solana (SOL) exchange-traded fund (ETF), setting the stage for its debut subsequent Monday. The Securities and Futures Fee (SFC) confirmed on its web site that the ChinaAMC Solana ETF, below ticker 3460, acquired authorization on October 17.
That is the primary occasion of a Solana spot ETF gaining regulatory approval within the area.
Hong Kong’s First Spot Solana ETF
In line with ChinaAMC, the fund can be formally listed on October 27, with a administration price of 0.99% per 12 months. Custody preparations embrace BOCI-Prudential Trustee Restricted as the first custodian, whereas OSL Digital Securities acts because the sub-custodian and in addition offers the digital asset buying and selling platform for the much-anticipated ETF.
Buyers will be capable to commerce the product in Hong Kong {dollars}, Chinese language yuan, and US {dollars} on the Hong Kong Inventory Change, with a board lot dimension of 100 shares in every foreign money. ChinaAMC already manages spot Bitcoin and Ethereum ETFs in Hong Kong, which have been amongst Asia’s first crypto ETFs.
The approval of the Solana ETF comes at a time when market members anticipate that the US Securities and Change Fee (SEC) might quickly authorize its first batch of spot Solana and different altcoin ETFs. Whereas preliminary approval was anticipated round October 10, delays probably stemmed from the prolonged US authorities shutdown.
Final month, the securities regulator streamlined the method by adopting generic itemizing requirements and eliminating the necessity for token-specific filings. This regulatory change has triggered a wave of latest crypto ETF purposes, amidst rising institutional curiosity in diversified digital asset merchandise.
MemeStrategy’s $377K Funding on Solana
The latest approval of the spot Solana ETF within the area builds on momentum set earlier this 12 months when MemeStrategy turned Asia’s first publicly listed firm to spend money on Solana. Again in June, MemeStrategy acquired 2,440 SOL tokens, spending roughly $377,000 at a median worth of $155 per token. The corporate had then cited the crypto asset’s long-term potential in blockchain, decentralized platforms, and AI-driven Web3 purposes.
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The transaction was facilitated via OSL Group, a completely licensed Hong Kong digital asset platform.
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