Hong Kong Greenlight Solana ETF Amid Strong Market Momentum

Hong Kong has officially approved the region’s first Solana exchange-traded fund (ETF). While the U.S delays decisions, investors in Asia will soon be able to have regulated and easier access to tap into the altcoin’s market potential. 

This shows that more institutions are interested in Solana. At the same time, analysts predict the coin to reach $400 soon.

Solana ETF Set to Launch on October 27

The newly authorized Solana ETF is set to launch on October 27. Investors can purchase 100 units per lot, with a minimum investment of about $100. The product gives direct exposure to Solana’s market performance without needing to own the crypto asset.

As announced, the fund has a management fee of 0.99%, with custody and admin costs that could add up to 1%, making the total yearly expense about 1.99%. This new fund joins ChinaAMC’s existing spot Bitcoin (BTC) and Ethereum ETFs, offering more crypto investment choices for investors in the region.

Solana Investment Products Surge as ETFs Expand Globally

Solana-linked investment products have been growing rapidly in recent weeks. Its weekly inflows have reached $706 million, bringing total assets under management (AuM) to a record $5.1 billion. This shows strong investor interest in Solana and other altcoins beyond regular trading platforms.

In the United States, Bitwise is moving forward with its own Solana ETF (BSOL). The company recently submitted its fifth amendment to the SEC. The asset manager cut the fund’s management fees to just 0.20% and added staking features for investors. 

Bloomberg analyst James Seyffart commented on this move, saying this highlights the growing competition in the Solana ETF market. Meanwhile, market analysts are optimistic about Solana’s near-term potential. 

Experts said that Solana is trading within its “sweet zone,” with ideal entry points still below $200, while projected targets range between $300 and $400. This is poised to offer a favorable risk-to-reward setup for traders.

The launch of the Solana ETF in Hong Kong is expected to give investors easier access to these opportunities, allowing them to participate in Solana’s growth within a regulated investment framework.

Solana Momentum Expands Beyond ETFs

Interestingly, Solana’s momentum is extending beyond ETFs. In Japan, DeFi Development Corp launched the country’s first Solana Treasury firm with Superteam Japan. The company announced that this move is part of its “Treasury Accelerator Program” aimed at helping institutions build Solana-based treasuries.

Meanwhile, Gemini has launched its Solana Edition Credit Card to make using Solana part of everyday spending. The card lets users earn rewards on purchases, which can be automatically staked to earn extra yield. Cardholders can also get up to 4% cashback in SOL on eligible purchases, helping them grow their crypto while they spend.