“Hong Kong beats the US to list a Solana ETF, although JP Morgan expects inflows to be modest compared to its BTC and ETH counterparts.”, — write: www.coindesk.com
The ChinaAMC Solana ETF (03460) will begin trading on the Hong Kong Stock Exchange on Oct. 27 under three currency counters — HKD (3460), RMB (83460), and USD (9460). Each lot will represent 100 SOL.
ChinaAMC already operates spot bitcoin and ether ETFs in Hong Kong, which were among the first of their kind in Asia.
US regulators are delayed in approving a solana ETF, as the Securities and Exchange Commission (SEC) is currently operating with minimal staff, owing to a prolonged government shutdown.
In the US, JPMorgan expects Solana spot ETFs to attract around $1.5 billion in first-year inflows, a modest amount compared to their ether counterparts, due to so many other crypto ETFs already on the market.
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Investor sentiment has remained at “fear” levels for a week as bitcoin consolidates, hinting at potential market exhaustion.
- The Fear and Greed Index has stayed in fear territory for seven consecutive days, a pattern that has historically preceded local bottoms.
- On-chain data shows elevated choppiness levels, suggesting the market may continue to consolidate before making its next major move.
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