The first Solana spot ETF in Hong Kong is listed, with an initial scale of 21.29 million Hong Kong dollars

ChainCatcher news, Hong Kong's first Solana spot ETF---Huaxia Solana ETF has officially been listed on the Hong Kong Stock Exchange, becoming the third type of cryptocurrency spot ETF approved by the Hong Kong Securities and Futures Commission after Bitcoin and Ethereum.

According to SoSoValue data, the trading volume on the first day was 11.39 million HKD, with a total net asset value of 21.29 million HKD, equivalent to approximately 13,461 SOL. The closing price on the HKD counter showed a discount of -0.60%, indicating strong selling pressure.

In terms 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 simultaneously).

The Huaxia Solana ETF is issued by Huaxia Fund (Hong Kong) and was approved by the Hong Kong Securities and Futures Commission on October 22. Its features include:

• Supports cash or physical redemption;
• Does not support additional income from Solana through staking;
• Management fee rate of 0.99%;
• Multi-currency trading: supports HKD (code 3460), RMB (code 83460), and USD trading (code 9460).