Hong Kong approves its first Solana spot ETF, the third crypto spot ETF approved after Bitcoin and Ethereum, to be listed on the Hong Kong Stock Exchange. The ETF includes RMB and USD counters, with a minimum investment of $100 and an estimated annual expense ratio of 1.99%.

ChinaAMC (Hong Kong) previously launched Asia’s first Bitcoin and Ether spot ETFs. Hong Kong’s approval of spot Solana ETFs follows similar moves by Brazil and Canada, with Kazakhstan launching its first spot Bitcoin ETF. The United States has yet to approve a Solana spot ETF.

Bitwise’s CIO believes Solana will become the primary blockchain for stablecoins and asset tokenization, calling it “the new Wall Street.” Institutional investors see Solana’s speed and transaction finality as appealing for blockchain infrastructure evaluation.

Read more at Cointelegraph: Hong Kong Approves its First Solana Spot ETF, Outpacing the US