## KEY TAKEAWAYS
- Pando Finance plans to list its spot Solana ETF (2831.HK) on the Hong Kong Stock Exchange on October 13, 2026, making it the city's second fund with direct SOL exposure.
- The Pando Solana ETF carries an annual management fee of 0.6% and an estimated recurring expense ratio of 1.6%, versus 0.99% and 1.99% respectively for ChinaAMC's existing Solana ETF (03460).
- Subscriptions run October 6 to 12, with an indicative issue price of HK$7.80 to HK$8 per share and a minimum 100-share lot of roughly HK$800 before charges.
- The fund will not stake, use derivatives or leverage, with SOL held through HashKey Exchange for trading and HashKey Custody Services for safekeeping.
## DETAILED SUMMARY
Pando Finance Limited plans to list its spot Solana exchange traded fund on the Hong Kong Stock Exchange on October 13, 2026, according to multiple reports of the company's announcement. The product will be Hong Kong's second fund offering direct exposure to SOL, following the ChinaAMC Solana ETF, which the Securities and Futures Commission approved in October 2025 as Asia's first spot Solana ETF. Subscriptions are open from October 6 to 12, with an indicative issue price of HK$7.80 to HK$8 per share. Although the fund uses the US dollar as its base currency, its shares will trade in Hong Kong dollars.
Per the product documents, the fund is a passive vehicle that can allocate up to 100% of net asset value to SOL, with performance measured against the CME CF Solana Dollar Reference Rate's Asia Pacific closing price. The fund will not commit its holdings to network validators, so investors will not receive staking rewards. Derivatives and leverage are prohibited, and cash holdings are capped at 3% of net asset value. HashKey Exchange will execute Solana transactions, and HashKey Custody Services will safeguard the assets.
Fee positioning is the main point of differentiation. Pando's 0.6% annual management fee compares with 0.99% for ChinaAMC's product, and its estimated total expense ratio of 1.6% compares with 1.99%, a gap of roughly 0.39 percentage points. The fund does not intend to distribute dividends.
The product documents also warn that SOL has experienced considerable volatility, including a single-day decline exceeding 42% during 2022, and that investors could lose their entire investment. The listing follows Pando's earlier spot Bitcoin and Ethereum ETFs in Hong Kong, making Solana its third spot crypto ETF in the city. Coverage of the listing is based on announcement-related reporting; the original full article could not be retrieved.
