Key Takeaways
Did Bitwise’s Solana ETF just get approved in the U.S.?
Bitwise’s Solana Staking ETF received listing certification from NYSE Arca, but trading cannot begin until the U.S. government shutdown ends.
Who launched the first Solana spot ETF?
Hong Kong moved first. ChinaAMC listed the world’s first spot Solana ETF this morning, showing Asia’s fast-moving regulatory lead while the U.S. remains paused.
NYSE Arca certified approval for Bitwise’s Solana Staking ETF on 27 October, marking another step toward U.S. launch.
However, Hong Kong’s ChinaAMC already began trading the world’s first spot Solana ETF this morning, beating American rivals by weeks.
The New York Stock Exchange’s official certification, as seen on the U.S. Securities and Exchange Commission [SEC] website, confirms Bitwise secured listing approval under the Securities Exchange Act of 1934.
Source: X
Trading remains frozen until the U.S. government shutdown ends and final SEC reviews are complete.
Hong Kong seizes first-mover advantage
ChinaAMC’s Solana ETF was launched on the Hong Kong Stock Exchange at 9:30 a.m. local time, offering three currency options: HKD, RMB, and USD. The fund charges an annual management fee of 0.99%.
The approval highlights Asia’s rapidly evolving crypto regulatory framework. Hong Kong has previously approved Bitcoin and Ethereum spot ETFs, establishing itself as a hub for digital assets.
Smart money positioned early
Digital asset treasuries loaded up before ETF approvals. Forward Industries and Solana Company accumulated over $2 billion in SOL during September alone.
Treasury balances jumped by over 260% in a single month, according to Coingecko data.
Solana trades at $202.26, up 1.09% today. The price climbed from $177.67 as ETF news spread and could reach as high as $300-$400 once U.S. products are launched.
October’s ETF wave builds
Over ninety spot ETFs covering 24 coins now queue at the SEC, and most decision deadlines fall in October 2025. The SEC approved new rules in September that allow for faster ETF listings.
Multiple asset managers have filed for Solana ETFs, including VanEck, Grayscale, Franklin Templeton, Fidelity, and others. 21Shares also secured provisional approval for its product on Cboe BZX Exchange.
Prediction markets show 100% odds for U.S. Solana ETF approval before year-end. XRP and Litecoin are at over 90%, while Dogecoin is over 80%.
Solana staking makes a difference
Bitwise set its fee at 0.20% with a three-month waiver for early investors. The fund plans to stake its SOL holdings, potentially generating an annual yield of 7.3%—a feature absent from most Bitcoin and Ethereum ETFs.
U.S. approval is pending the resumption of SEC operations after the shutdown. The government closure has entered its third week.
Senate votes to end it have failed nearly a dozen times. Once resolved, exchanges may proceed independently.
Bitwise switched its listing from Cboe BZX to NYSE Arca—the exchange hosting major Bitcoin and Ethereum ETFs. The move positions the product alongside the industry’s highest-liquidity offerings.
The NYSE certification clears the final hurdle before American investors gain regulated access to Solana through traditional brokerage accounts.
