Hong Kong to list second spot Solana ETF after China funds comes to HK Hong Kong is entering a second, highly competitive phase of regulated digital assets in Asia. Pando Finance will list the Pando Solana ETF (ticker 2831.HK) on the Hong Kong Stock Exchange on 13 October.
The listing will follow the launch by China Asset Management (Hong Kong) of its own first Solana ETF, making SOL, plus Bitcoin and Ethereum, the third cryptocurrency to support a multi-issuer ETF market in Hong Kong. A second issuer in HK makes for more choice, liquidity, and narrower spreads for investors wanting compliant SOL exposure without having to custody their coins. It also maintains Hong Kong’s status as Asia’s largest hub for regulated virtual asset products.
Pando Finance Joins ChinaAMC in Hong Kong
Solana market: Pando Finance, a licensed virtual asset manager, issues the new fund. Pando Solana ETF tracks Solana’s spot price and is fully backed with physical SOL under a Hong Kong pan-regulated custody model. The structure is compliant with HKEX circulars, with cash and in-kind creation and redemption by authorized platforms.
Source: Binance
ChinaAMC launched its Solana ETF (03460) on 27 October 2025 after SFC approval, by setting up fair valuation, custody, and index standards, with OSL Digital Securities as sub-custodian and OSL Exchange for execution.
Pando’s single-issuer debut disrupts dominance. The same happened with Hong Kong’s spot Bitcoin and Ethereum ETFs from ChinaAMC, Harvest, and Bosera that attracted significant assets and turnover. Pando and HKEX notices show 2831.HK will enable multi-counter trading and institutional custody, removing complications for private banks and market makers in Asian hours.
Also Read: Solana ETF Demand Rises as Validators Approve Faster SOL Supply Cuts
Global Flows Offer Important Backdrop
Global adoption of Solana ETFs is growing, as data from TokenPost and Pluang, which cite roughly $1.9 billion in net assets and $1.61 billion of net inflows to all spot Solana ETFs worldwide. SoSoValue indicates there are nine US spot Solana ETFs with roughly $1.93 billion of assets and $1.59 billion of net inflows.
While Bitcoin ETFs continue to surpass it with US assets exceeding $110 billion, Solana remains the largest altcoin ETF category besides Ethereum. The biggest US solana fund, Bitwise BSOL, has over $1.2 billion in assets.
Source: PayBito
It stopped posting inflows for 14 weeks in late September when it posted outflows of $20.9 million, reflecting the sensitivities to SOL’s price and broader risk appetite. For Hong Kong but this global growth means it can maintain the custody and index models requested by regulators and also support narrowing spreads, even though local products command lower volumes than their US peers.
Also Read: Solana ETFs Record $138M in Net Inflows Over 10 Days in 2026
What Competition Means for Investors and Ecosystem
A second ETF in the Solana ecosystem brings a second vote of confidence from institutions. Regulated ETFs act as a compliance route for MDs, families, and insurers who can’t hold tokens directly. It bolsters Solana’s lead in high-performance L1 set to settle stablecoins and launch tokens.
For investors, competition could yield tiered fees and deeper liquidity across HKD, USD, and RMB. For devs, ETF presence allows more talks with neobanking and asset managers serving the SFC cluster.
Source: Tekedia
Solana’s wild swings and low Hong Kong trade volume would require active market makers. JPMorgan forecasted Solana ETF inflows might reach US$1.5 billion in the first year, when it would be a marker for sentiment and adoption.
Secondary on the list, HK’s second Solana ETF propels the segment from a single-product pilot into a competitive market. Next, first-trading-day volume for 2831.HK, fee transparency, and whether global flow turns positive. If Pando takes off, more issuers will enter, pushing crypto ETF adoption in Asia over the tipping point.
Also Read: Morgan Stanley Ethereum and Solana ETFs Move Closer to Launch After SEC Filing Updates
Be the first to comment