Hong Kong’s Securities and Futures Commission (SFC) has approved ChinaAMC’s spot Solana (SOL) exchange-traded fund, marking the first of its kind in Asia.
The fund “ChinaAMC Solana ETF (03460)” was authorized on October 17 and will begin trading on October 27 on the Hong Kong Stock Exchange. This makes Solana the third cryptocurrency to get an approved spot ETF in Hong Kong, after Bitcoin and Ethereum.
According to the SFC’s website, the ETF will be listed in three currencies — Hong Kong dollars, Chinese yuan, and U.S. dollars. Each trading unit will consist of 100 shares, and investors can start with as little as $100, which is about HK$780.
ChinaAMC’s website shows a management fee of 0.99% per year, with an annual total expense ratio of around 1.99%. The ETF will not distribute dividends and will follow an accumulation model similar to other crypto ETFs in the region.
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