- Hong Kong accredited the first-ever Solana spot ETF underneath ChinaAMC, set to launch on Oct 27.
- SOL’s 24-hour buying and selling quantity jumped 40% to $8B as traders piled in forward of the ETF debut.
- Analysts count on a U.S. Solana ETF by 2025, with potential inflows as much as $1.5B in its first 12 months.
Hong Kong simply made a significant transfer — formally approving its first-ever Solana spot ETF. The Hong Kong Securities and Futures Fee (SFC) granted ChinaAMC the go-ahead to launch the product, marking an enormous milestone for each Solana and Asia’s rising position within the crypto ETF scene. In line with the Hong Kong Financial Instances, the ETF will probably be tradable in each USD and RMB, with every unit consisting of 100 shares and a minimal funding of round $100. Launch day? October 27 on the Hong Kong Inventory Trade.
OSL Trade will function the buying and selling platform, whereas OSL Digital Securities takes on sub-custodian duties. Administration charges are set at 0.99%, with custody and admin charges capped at 1%, giving the ETF a complete annual expense ratio close to 1.99%. It’s not the most affordable product on the market, nevertheless it’s a sign that Hong Kong’s aiming to construct a severe framework for digital asset investing. This approval follows months of hypothesis, and the timing couldn’t be higher for Solana — which has seen buying and selling exercise heating up quick.
Solana’s buying and selling quantity surges as ETF pleasure spreads
Proper after the ETF announcement, Solana’s 24-hour buying and selling quantity spiked 40%, leaping to $8 billion although the token itself stayed flat round $184. It’s a transparent signal that traders are positioning early, anticipating potential inflows as soon as the ETF begins buying and selling. Solana had reached above $230 earlier this month however pulled again round 16% with the remainder of the market. Nonetheless, analysts like BitGuru say SOL stays in sturdy technical form, holding agency above $180 — and {that a} push previous $195 might arrange a fast rebound towards $210 and even $220 within the brief time period.
On-chain knowledge additionally exhibits renewed exercise throughout the Solana ecosystem. After just a few sluggish weeks dominated by meme cash on BSC, merchants are flowing again into Solana platforms like Pump.enjoyable, including gasoline to the bullish narrative. It appears like momentum is quietly constructing once more, with the ETF information solely including to the thrill.
May the U.S. be subsequent in line?
Whereas Hong Kong and Brazil have already paved the best way with Solana ETFs, the USA nonetheless hasn’t pulled the set off. A number of massive asset managers, together with Bitwise, 21Shares, and VanEck, have pending functions for spot SOL ETFs, however the SEC’s progress has been sluggish — reportedly attributable to staffing shortages tied to the continuing authorities shutdown.
Nonetheless, optimism is rising. Analysts count on a U.S. approval might land someday in 2025, with JPMorgan estimating as much as $1.5 billion in inflows through the first 12 months alone. Institutional curiosity is clearly rising, and with Hong Kong now setting the tone for Asia, the stress on U.S. regulators to maintain up is greater than ever.
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