Hong Kong’s Second Spot Solana ETF Debuts Oct 13 as Pando Undercuts ChinaAMC with 0.6% Fee
Hong Kong is adding a second spot Solana ETF to its exchange today.
Pando Finance lists its passively managed Solana fund (ticker: 02831 / 2831.HK) on the Hong Kong Stock Exchange (HKEX) on October 13, 2026.
The launch brings direct competition to ChinaAMC’s first-mover product and deepens Asia’s regulated access to SOL.
Pando’s Lower Fees Put Pressure on the Incumbent
Pando Finance’s new fund charges an annual management fee of 0.6%. Its estimated ongoing charges ratio stands at 1.6%.
That directly undercuts ChinaAMC’s spot Solana ETF (03460), which carries a 0.99% management fee and a 1.99% ongoing expense ratio.
BREAKING: A second spot Solana ETF is coming to Hong Kong.
Pando Solana ETF (https://t.co/l4VjGXFCPy) is set to list on HKEX on 13 October. Globally, spot SOL ETFs hold $1.9B in net assets, with $1.61B in cumulative net inflows. pic.twitter.com/U6gqLqK8qV
— Solana (@solana) October 12, 2026
When Hong Kong approved its first-ever Solana ETF in Asia last year, analysts set a $400 SOL price target and flagged the city as a gateway for institutional Asian capital.
Pando’s entry is now testing whether lower costs can shift that capital.
The fund tracks the CME CF Solana Dollar Index (Asia-Pacific closing price variant). It holds actual SOL, no staking, no leverage, no derivatives.
Up to 3% of the portfolio can sit in cash to cover operating expenses and redemptions. The base currency is USD, with shares trading in HKD.
The indicative issue price runs from HK$7.80 to HK$8.00, with a minimum lot of 100 shares, an entry ticket of roughly HK$800 before transaction charges.
Trading and custody run through HashKey Exchange and HashKey Custody Services.
HashKey has established itself as a licensed custodian for Hong Kong’s broader spot virtual-asset ETF initiative, and its role here reinforces that position.
An HKEX circular dated October 9, 2026 confirmed these custody and settlement arrangements.
This is Pando’s third spot virtual-asset product after its existing Bitcoin and Ethereum ETFs.
A Growing Global Market With a Fee War Taking Shape
The timing is deliberate. According to a post by Solana’s official account, global spot Solana ETFs now hold approximately $1.9 billion in net assets and have drawn $1.61 billion in cumulative net inflows.
That momentum is partly what drove recent SOL ETF inflows past $1.3 billion in a single week, signaling sustained institutional appetite for regulated SOL exposure.
Hong Kong was the first Asian market to launch spot BTC and ETH ETFs. That 2024 regulatory template paved the way for SOL products to follow.
Now, with two competing SOL funds on HKEX, the city is entering a new phase, one defined less by regulatory firsts and more by product differentiation.
Meanwhile, Morgan Stanley launching Ethereum and Solana ETFs in the US shows that fee competition and product expansion are no longer confined to Asia.
Pando’s success will ultimately depend on creation and redemption flows, not just the listing.
First-day trading volume and the fund’s premium or discount to NAV will be the clearest early signal of whether lower fees are enough to draw capital away from ChinaAMC’s established product.
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