Hong Kong's First Solana Spot ETF Listed Today, with an Initial Size of 21.29 Million HKD

BlockBeats News, October 27th: The first Solana spot ETF in Hong Kong, the Huaxia Solana ETF, was officially listed on the HKEX, becoming the third type of cryptocurrency spot ETF approved by the Hong Kong Securities and Futures Commission, following Bitcoin and Ethereum.

According to SoSoValue data, the first day of trading saw a trading volume of 11.39 million Hong Kong dollars, a total asset net value of 21.29 million Hong Kong dollars, equivalent to about 13,461 SOL, with a Hong Kong dollar over-the-counter closing discount of -0.60%, indicating stronger selling pressure. From the perspective of first-day trading volume, it was about half of the trading volume of the Hong Kong Ethereum spot ETF listed on April 30, 2024 (when three products were listed at the same time).

The Huaxia Solana ETF is issued by Huaxia Fund (Hong Kong) and was approved by the Hong Kong Securities and Futures Commission on October 22nd. Its features include: supporting cash or in-kind creation and redemption, not supporting Solana for providing additional yield through staking, a management fee rate of 0.99%, and multi-currency trading: supporting Hong Kong dollars (code 3460), Renminbi (code 83460), and US dollar trading (code 9460).