Pando Finance Limited plans to list Hong Kong’s second spot Solana ETF on October 13, 2026, offering direct exposure to SOL at lower annual fees than ChinaAMC’s existing fund. The product will hold the cryptocurrency without staking it, giving shareholders exposure to price changes but no staking rewards.
Key takeaways
- Pando’s Solana fund will trade under stock code 02831.
- The management fee is 0.6%; estimated annual ongoing charges are 1.6%.
- The ETF excludes staking, derivatives and leverage.
- HashKey will provide SOL trading and custody services.
According to crypto.news, the subscription period spans October 6 to October 12, offering shares at an indicative price of HK$7.80 to HK$8 per share. A 100-share lot costs HK$780 to HK$800 before brokerage charges and other applicable fees.
The listing extends Pando’s existing Bitcoin and Ethereum spot ETF lineup. Solana will be its third spot cryptocurrency fund in Hong Kong.
How Pando’s Hong Kong Solana ETF will work
The passive fund will buy and hold SOL through virtual asset trading platforms licensed by the Securities and Futures Commission. Its shares will trade in Hong Kong dollars, while the fund’s accounting base currency is the US dollar.
Product documents allow the ETF to invest up to 100% of its net asset value in SOL. Performance will be measured against the Asia Pacific closing price of the CME CF Solana Dollar Reference Rate, although fees and operating costs can cause returns to differ from the benchmark.
The fund prohibits derivatives and leverage. Cash retained for expenses and redemptions is capped at 3% of net asset value. It will not commit SOL to network validators and does not intend to distribute dividends.
Crypto Briefing reported that an exchange circular dated October 9, 2026, confirmed the fund’s eligibility and its custody and settlement arrangements. The report also said Pando holds the licenses required to allocate an entire portfolio to virtual assets.
Lower fees than ChinaAMC’s Solana fund
Pando’s Hong Kong Solana ETF carries a 0.6% annual management fee and an estimated annual ongoing charges ratio of 1.6%. ChinaAMC’s corresponding figures are 0.99% and 1.99%, making Pando’s charges lower by 0.39 percentage points on both measures.
The ongoing charges estimate is broader than the management fee, so 0.6% alone does not represent the full estimated annual cost of holding the fund.
ChinaAMC’s Solana ETF, stock code 03460, preceded Pando’s product. The Securities and Futures Commission approved that first fund in October 2025, with its introduction scheduled for October 27, 2025. Hong Kong’s first spot Bitcoin and Ethereum ETFs began trading in April 2024.
For broader context, Crypto Briefing cited an official Solana statement putting worldwide spot Solana ETF net assets at about $1.9 billion and cumulative inflows at around $1.6 billion.
HashKey infrastructure and expanding regulation
HashKey Exchange will execute the fund’s SOL transactions, while HashKey Custody Services will safeguard its cryptocurrency. Shareholders will own ETF shares rather than hold SOL directly, with the assets under the appointed custodian’s control.
Hong Kong’s September 2026 Policy Address outlined proposals to expand regulated stablecoin trading and tokenized assets on licensed platforms. Among these are stablecoin-based settlement methods for tokenized money market funds, tokenized gold and other eligible real-world assets.
The Hong Kong Monetary Authority is preparing central bank digital currency settlement and round-the-clock operations under EnsembleTX around the end of 2026. The Securities and Futures Commission scheduled custody surveillance measures for the second half of 2026, followed by further market monitoring and anti-money-laundering surveillance in 2027.
Product documents flag Solana’s volatility
The ETF remains exposed to SOL’s market-price swings despite its regulated structure. Its product documents warn that investors can lose their entire investment.
The documents cite a maximum single-day SOL decline of more than 42% during 2022. They warn that a comparable move would expose ETF shareholders to substantial losses.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.