Key Takeaways

When will the Solana ETF be listed?

The ETF is set to be listed on the 27th of October, with 100 units per lot and a minimum entry of around $100.

How is the Solana market reacting to this approval?

Solana is trading near $186.24, down slightly by 0.25%, but analysts remain bullish, predicting potential targets between $300 and $400.

In a landmark development for Asia’s crypto market, Hong Kong has given the green light to the region’s first-ever Solana [SOL] exchange-traded fund (ETF). 

Scheduled for listing on the 27th of October, the ETF will offer investors regulated exposure to Solana’s market performance without requiring direct ownership of the token, with 100 units per lot and a minimum entry of around $100.

Needless to say, the approval already stirred optimism across the market, with some analysts predicting SOL could soar to $400. 

Details of the Hong Kong-approved Solana ETF

That said, the product now joins ChinaAMC’s suite of spot Bitcoin [BTC] and Ethereum [ETH] ETFs, reinforcing Hong Kong’s growing position as a hub for digital asset innovation.

Additionally, as per the filing, the newly approved Solana ETF will carry a management fee of 0.99%, with additional custody and administrative costs potentially bringing the total annual expense ratio to around 1.99%.

This happened at a time when Solana was trading at $186.24, marking a slight 0.25% dip in the past 24 hours, according to CoinMarketCap.

Yet, despite the minor pullback, analysts remain bullish.

For instance, one crypto strategist

Go to Source to See Full Article
Author: Ishika Kumari