Hong Kong has approved its first spot Solana ETF. The issuer is China Asset Management Hong Kong. Trading is set to begin on the Hong Kong Stock Exchange on October 27. This guide explains what is listing, how the structure works, and what investors should check on day one.
What Solana spot ETF is
A spot Solana ETF holds SOL in qualified custody. The fund issues shares that mirror exposure to the asset. Investors trade those shares on HKEX in the local session. Settlement is in fiat while the custodian records onchain holdings for the trust.
Governance and custody blueprint
Key management and MPC Private keys sit under multi party computation. No single device can move funds. Signing thresholds and physical separation reduce common attack paths.
Segregation of duties The administrator reconciles onchain balances with transfer agent records. Market makers cannot change custody settings. Roles that do not need write access have read only access.
Address disclosure and proofs The issuer should publish fund addresses and provide routine holdings attestations so balances are verifiable onchain.
Incident response The custodian maintains pause circuits that are specific to the ETF. Recovery drills run each quarter. Changes to wallet policy follow a staged process with a clear audit trail.
Service provider oversight The trust deed sets performance and disaster recovery rules for OSL and any affiliate that touches trading or custody. The issuer reviews these rules at least once per year.
How creations and redemptions work
Primary market Authorized participants deliver or receive SOL in exchange for ETF shares during daily windows. Creations add SOL to the trust and mint shares. Redemptions remove SOL and retire shares. Basket sizes and cut off times are published each morning.
Secondary market Investors buy or sell shares on HKEX in their chosen currency. Market makers use the primary window to close gaps with net asset value. This mechanism keeps spreads near the fair value of SOL.
NAV and pricing An independent agent computes values from a composite of regulated virtual asset venues. The administrator posts NAV and an intraday value during the session.
Quick specs at launch
| Attribute | Details |
|---|---|
| Issuer | China Asset Management Hong Kong |
| Asset exposure | Spot Solana SOL held in qualified custody |
| Listing venue | Hong Kong Stock Exchange HKEX |
| Listing date | October 27 2025 |
| Currency counters | HKD RMB USD per media reporting |
| Lot size | One hundred SOL per board lot per trade coverage |
| Partners | OSL Exchange trading platform and OSL Digital Securities sub custodian |
| Management fee | Zero point ninety nine percent indicated |
| Estimated total expense ratio | Near one point ninety nine percent year one per issuer guidance |
Is this different from a futures product?
Yes. A spot ETF holds SOL directly. A futures product tracks derivatives which can add roll costs and basis effects.
Can retail investors buy it on day one?
Hong Kong permits access to virtual asset ETFs. Retail can buy through brokers that support HKEX access and allow these funds under local suitability checks.
Why are there three currency counters?
The issuer lists HKD RMB and USD counters to match investor funding sources and reduce foreign exchange friction. Custody remains in SOL regardless of the trade currency.
Conclusion
The first spot Solana ETF in Hong Kong expands regulated access beyond bitcoin and ether. It gives institutions and retail a simple way to gain exposure without wallets. The next milestone is execution on listings day and a steady proof routine for holdings.
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