Hong Kongis entering a new era in the cryptocurrency market. The city’s securities regulator has approved the first spot ETF for Solana (SOL). The ETF will be managed by China Asset Management (Hong Kong) and will open for trading on October 27. Like this solana,Bitcoin 
$107,888.00 and Ethereum 
$3,874.69It became the third cryptocurrency to receive spot ETF approval in Hong Kong, after .
Solana ETF Targets Retail Investors
Hong Kong Economic Times‘s news and Blockchain journalist Wu Blockchainas confirmed by spot Solana ETFEach trading unit of ‘s will consist of 100 shares and can be invested with approximately 100 dollars.
It was reported that the ETF will be listed on the OSL Stock Exchange, and custody and clearing services will be provided by OSL Digital Securities. While the fund management fee is determined as 0.99 percent, the total of custody and administrative expenses will not exceed 1 percent of the net asset value of the fund. Thus, the estimated annual total expense rate will be 1.99 percent. The ETF is not expected to distribute dividends to investors based on staking income.
China Asset Management (Hong Kong) is currently Bitcoin And Ethereum It also manages spot ETFs for With the Solana ETF, the institution will be offering a SOL coin-based ETF for the first time in Asia. Development region cryptocurrencyIt is seen as an important step towards the goal of becoming an organized center for people.
Global Solana ETF Approval Gains Speed
Solana ETF approvals are not limited to Asia. The US Securities and Exchange Commission (SEC) earlier this month 21SharesApproved ‘s spot Solana ETF. The ETF in question allows direct investment in the spot price of SOL, and it is planned to integrate the staking feature into the ETF in the future. Analysts predict that Solana’s price may rise to $300 if institutional demand increases.
On the other hand VanEck, Bitwise, Grayscale, Canary Capital, Franklin Templeton, Fidelity And CoinShares Major issuers such as have also received approval for their spot Solana ETF applications. It is expected that these products will be approved and launched on the market soon. CryptoAppsy According to data, Solana’s market value is $ 100.8 billion, which makes it the sixth largest cryptocurrency after Bitcoin, Ethereum, Tether, BNB and XRP.
