The world's first Solana spot ETF is listed in Hong Kong! Asia's Web3 hub has taken a key step

Anatoly 2025-10-28 11:12 82825人围观 SOL

Recently, the world's first Solana spot ETF has officially landed on the Hong Kong Stock Exchange! This is not only the launch of a financial product, but also a landmark breakthrough - Asia's first launch of compliant encryption ETFs for mainstream publi

Recently, the world’s first Solana spot ETF was officially launched on the Hong Kong Stock Exchange! This is not only the launch of a financial product, but also a landmark breakthrough - Asia's first launch of compliant encryption ETFs for mainstream public chains, marking Hong Kong's once again leading the world in building a "Web3.0 financial center".

1. Big launch: The world’s first Solana spot ETF is listed today

Recently, the Hong Kong Securities Regulatory Commission officially approved the Solana (SOL) spot ETF issued by China Asset Management (Hong Kong). The product will be officially listed for trading on the Hong Kong Stock Exchange on October 27, 2025.

This is not only the world's first ETF with Solana spot as the underlying target, but also the first launch of a single cryptocurrency ETF in Asia, filling the gap in compliant investment channels.

What is more noteworthy is that the ETF innovatively set up dual trading desks for RMB and US dollars, which facilitates the flexible participation of investors in different currencies and greatly improves the convenience of cross-border funds.

2. Why Solana? The ecological rise of high-performance public chains

The choice of Solana as the target this time is not accidental.

As one of the fastest growing public chains in recent years, Solana is known for its “high performance and low cost”:

The transaction speed is close to real-time, and the TPS (transactions per second) can reach thousands of transactions；
The handling fee is extremely low, only a few cents per transaction；
The ecosystem is active and a complete DeFi, NFT, and Web3 application matrix has been formed.

Data shows that in August 2025, the Solana network’s monthly decentralized exchange (DEX) trading volume exceeded US$144 billion, returning to historical highs. Leading projects such as Raydium and Orca have contributed tens of billions of dollars in transaction volume, demonstrating a strong user base and asset liquidity.

This also makes Solana the third largest public chain asset that attracts the most attention from institutions after Bitcoin and Ethereum.

3. Product Design: Compliance First, Safety and Controllability

This ETF is escorted by a licensed institution throughout the entire process to ensure it operates under a strict regulatory framework:

Trading operator: OSL Exchange (Hong Kong licensed digital asset exchange)；
Sub-custodian: OSL Digital Securities, providing professional digital asset custody services；
Management fee: annual fee 1.99% (including 0.99% management fee + ≤1% custody and administrative fee)；
No staking function: do not participate in Staking to avoid compliance and operational risks；

This means that investors can buy and sell directly through traditional securities accounts without touching wallets, private keys or exchanges, significantly reducing operational thresholds and security risks, and truly realizing "investing in crypto assets like buying stocks."

4. Global trends: Crypto ETFs are reshaping the investment landscape

The birth of Solana Spot ETF is an important part of the mainstreaming process of global crypto assets.

Reviewing the development in recent years:

In 2024, the U.S. SEC approved the first batch of Bitcoin spot ETFs, and BlackRock IBIT attracted over 100 investors after its listing.

US$33 billion in capital inflows, setting a record for the fastest fund-raising in ETF history；

Canada and Brazil have also launched Solana spot ETF, starting a regional layout；
Today, Hong Kong has become the first financial center in Asia to launch such products, forming a pattern of dislocated competition and coordinated development with Europe and the United States.

The market signals are equally strong: Global asset management giant T. Rowe Price has recently submitted an application for an actively managed crypto ETF containing Solana assets, showing that institutional interest in crypto investment tools continues to grow.

5. Hong Kong’s ambition: a systematic layout to create an Asian Web3 hub

Behind the approval of this ETF is Hong Kong’s systematic strategic advancement in the field of virtual assets:

The "Stable Coin Ordinance" will take effect in 2025: it is clarified that stable currency issuers must have 25 million Hong Kong dollars

Minimum capital, strengthen risk management and control；

"Hong Kong Digital Asset Development Policy Declaration 2.0" was released, proposing four major strategies of "LEAP": regulatory optimization (L), ecological expansion (E), product innovation (A), and talent gathering (P)；
As of July 2025:

There are 11 virtual asset trading platforms licensed by the Hong Kong Securities and Futures Commission.；
There are over 57 licensed corporations providing related services.；
The regulatory framework is maturing and the infrastructure is improving.

Analysts believe that the launch of Solana spot ETF will further attract capital inflows from international institutions, promote the development of supporting services such as custody, clearing, and auditing, consolidate Hong Kong's status as "Asia's Web 3.0 hub," and also provide a reference model for "innovation and regulatory balance" for other regions.

6. Important reminder: Mainland investors are not allowed to participate!

It must be clearly emphasized that there are fundamental differences in the regulation of virtual currencies between Mainland China and Hong Kong.

According to the current regulatory policies in the Mainland:

Virtual currencies do not have legal tender status；
Related transactions, speculation, ICO, IEO and other activities are illegal financial activities；
Financial institutions are not allowed to provide account, payment, custody and other services for virtual currency transactions.

Although the ETF operates compliantly in Hong Kong, the crypto-assets themselves are highly volatile:

Bitcoin and Ethereum have experienced short-term retracements of 30%-60%；
The Solana derivatives market faces the risk of “long-term squeeze” due to high leverage；
These risks will be directly transmitted to the net value of the ETF and affect investor returns.

Therefore, domestic investors should fully understand their compliance and market risks and resolutely refrain from investing in any overseas encryption products.

Conclusion: The “test field” of financial innovation is sending signals

This time, the listing of Solana spot ETF in Hong Kong is not only the birth of a product, but also a signal:

Crypto assets are moving from “marginal speculation” to “mainstream allocation”.
Compliant financial instruments are bridging traditional capital and the digital world.

With a prudent and open attitude, Hong Kong has once again been at the forefront of global financial innovation.

In the future, with the launch of more spot ETFs, derivatives, and RWA (real asset tokenization) products, the crypto market will accelerate its evolution toward institutionalization, standardization, and productization.

And what’s more important to each of us is:
Understand the trends, stick to the bottom line, stay away from illegality, and embrace compliance.

After all, real financial innovation is never a “myth of wealth creation”, but rather the creation of sustainable value within rules.