The Hong Kong Stock Exchange will begin trading the Solana (SOL) exchange-traded fund (ETF) on October 27th. The asset’s custodian, financial institution ChinaAMC, received regulatory approval from the Hong Kong Securities and Futures Commission (SFC) on October 17.
This fact makes the Solana ETF managed by ChinaAMC a milestone. One of the first Solana funds approved for public tradingstands out as the first on the Asian continent.
In this way, Solana will reach one of the major global financial centers, ranking fifth among the world’s largest stock exchanges with a market capitalization of approximately $5 trillion.
The fund will allow investors in Asia to access exposure to digital assets in a regulated manner. ChinaAMC has appointed BOCI Prudential Trustee Limited as the primary custodian of the ETF. OSL Digital Securities acts as a sub-custodian and trading platform provider for the virtual assets supporting the Fund.
This Solana ETF trades on the Asian stock market under the symbol 3460 and offers participants the possibility to trade in a variety of currencies. Including Hong Kong dollar, Chinese Yuan, US dollar.
Hong Kong’s efforts stand out in contrast to the regulatory landscape in other relevant markets. Specifically, as reported by CriptoNoticias, in the United States, the Securities and Exchange Commission (SEC) is still reviewing a similar application for the Solana ETF.
A response from U.S. regulators was expected this month, but Partial federal government shutdown slows process We will review the application and defer any decision regarding the approval of these financial products in the North American market.
