Key Notes
- Pando has scheduled Hong Kong’s second spot Solana ETF for October 13 under stock code 2831, following ChinaAMC’s 2025 launch.
- The fund charges a 0.6% management fee, while estimated ongoing charges are 1.6% and capped at that level through October 13, 2027.
- HashKey handles SOL trading and custody under separate arrangements, and the fund will not stake its holdings or use derivatives or leveraged exposure.
Pando Finance has scheduled the listing of its spot Solana exchange-traded fund in Hong Kong for October 13, adding a second local fund that directly holds SOL. The product will trade under stock code 2831 and charge an annual management fee of 0.6%.
The manager’s product page identifies the listing date, a 100-share trading lot and Hong Kong dollar trading. Solana’s official account also confirmed the planned debut, following ChinaAMC’s entry into the market last year.
A second spot Solana ETF is coming to Hong Kong.
— Solana (@solana) October 12, 2026
The listing gives investors another way to obtain SOL exposure through a securities account, without managing a crypto wallet. The fund is designed to track the token’s price; its documents explicitly rule out staking its holdings, using derivatives or taking leveraged exposure.
A Lower Management Fee, With Other Costs to Consider
Pando’s headline management charge is below the 0.99% annual rate listed for the ChinaAMC fund, which began trading on October 27, 2025. The difference is 0.39 percentage points, or 39 basis points, a year.
That comparison does not capture the full cost of holding Pando’s product. Its October 6 key facts estimate ongoing charges at 1.6% annually. Pando has capped those charges at 1.6% of average net asset value from launch through October 13, 2027, with the manager bearing any excess.
| Pando Solana ETF | Terms |
|---|---|
| Scheduled listing | October 13, 2026 |
| Stock code | 2831.HK |
| Trading currency and lot | HKD; 100 shares |
| Annual management fee | 0.60% |
| Estimated annual ongoing charges | 1.60% |
| Staking and derivatives | Not used |
Ongoing charges are an estimate for a newly established fund, rather than a demonstrated operating history. Brokerage costs and the difference between buying and selling prices also affect an investor’s realized return. A lower management fee alone therefore does not establish that one ETF will be cheaper to trade or track SOL more closely than another.
The competing products also offer different trading arrangements. ChinaAMC lists Hong Kong dollar, renminbi and US dollar counters, while Pando’s documents specify an HKD counter and a USD base currency. Currency conversion and broker access can matter alongside the published fee.
Direct SOL Holdings, Without Staking
Pando will seek to track the CME CF Solana-Dollar Reference Rate — Asia Pacific Variant before fees and expenses. CF Benchmarks describes the reference rate as a daily benchmark built from multiple SOL-dollar markets and calculated for the 4 p.m. Hong Kong close.
The fund can invest up to 100% of its net asset value in SOL, retaining cash of up to 3% to cover expenses and redemption requests. Its prospectus names HashKey Exchange, operated by Hash Blockchain Limited, as the virtual asset trading platform.
BOCI-Prudential Trustee Limited is the custodian and administrator. Hash Blockchain, acting through its associated entity HashKey Custody Services Limited, is responsible for safeguarding the SOL holdings as sub-custodian. Those are distinct roles: the platform executes the underlying transactions, while the custody arrangements govern how the assets are held.
The initial offer period ran from October 6 through October 12. The prospectus set an initial issue price of US$1 per share, subject to the manager’s discretion. That is an offering term, not a confirmed opening price on the exchange.
Participating dealers can create and redeem shares using cash, SOL or a combination of the two, under the fund’s operating rules. Ordinary exchange investors instead buy and sell shares at market prices. Those prices can differ from the value of the assets attributable to each share.
More Access Does Not Mean Automatic Inflows
Pando’s arrival expands the choice of listed Solana products, but the announcement does not establish how much new capital the fund will attract. The issuer’s public page still showed placeholders for total assets, outstanding units and market-price data when CoinScreamer reviewed it on October 13.
The absence of staking is another meaningful product distinction. CoinScreamer’s coverage of Morgan Stanley’s ETPs described plans to stake part of their underlying holdings. Pando’s structure provides price exposure without that additional source of network rewards.
Hong Kong’s ETF trading session also differs from SOL’s round-the-clock market. Token prices can move while the exchange is closed, and an investor cannot necessarily adjust an ETF position at the same time. Professional custody changes who manages the keys, while leaving exposure to the token’s volatility and the fund’s operational risks.
The listing comes as Solana advances its underlying infrastructure. CoinScreamer recently covered the completed 200ms slot rollout, a separate network upgrade. For Pando’s fund, the immediate measures to watch are published assets, trading spreads and tracking performance once those figures become available.
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