Hanwha Asset Management has revealed that it is actively considering Solana (SOL) and XRP alongside Bitcoin and Ethereum as base assets for upcoming crypto-related ETFs. This marks one of the most progressive stances among South Korean asset managers and signals a long-term strategic positioning toward digital assets.
According to Choi Young-jin, head of marketing, the company is fully prepared to launch what he called a “real showdown” ETF. Hanwha has been tracking the crypto market for over seven years, establishing dedicated research teams and publishing reports in preparation for regulatory clarity. This suggests Hanwha’s intention to lead the domestic ETF market’s integration of digital assets.
The growing institutional demand for assets like Solana and XRP is also noteworthy. Global fund flows show a shift from Ethereum to alternative chains, with XRP seeing several million dollars in recent inflows. Hanwha’s consideration of these tokens as ETF components reflects alignment with international trends.
However, legal hurdles remain. Under Korea’s current Capital Markets Act, crypto assets are not officially recognized as eligible ETF underlyings. This regulatory barrier poses a significant challenge for product approval and launch, despite the market readiness.
Nonetheless, Hanwha is moving forward with broader ETF development strategies. Its roadmap includes addressing the Korea discount, preparing for baby boomer retirements, and launching AI- and tech-themed ETFs to capture emerging demand.
Ultimately, Hanwha’s announcement goes beyond mere asset consideration—it positions the firm as a first mover in crypto-native ETF innovation within Korea. Still, the timeline and structure of any actual product launch will depend heavily on regulatory developments in the coming months.
