- Pando Solana ETF debuts on October 13, trading under ticker 02831, and opens for subscriptions from October 6 to October 12.
- The Solana fund marks the firm’s third spot virtual asset ETF, following its Bitcoin and Ethereum products.
Hong Kong’s spot Solana ETF market is about to get more competitive. Pando Finance is set to list its Pando Solana ETF, ticker 02831, on HKEX on October 13, with subscriptions open from October 6 through October 12. Entry is set at HK$800 per unit, with each trading unit comprising 100 shares priced between HK$7.8 and HK$8, denominated in US dollars but traded in Hong Kong dollars.
This is Pando’s third spot virtual asset ETF. In addition, the firm previously launched Bitcoin and Ethereum products, so Solana completes what is now a full spot crypto ETF lineup from a single issuer.
How It Works?
The fund is passive and physically backed; it buys and holds SOL directly through HashKey Exchange, with assets custodied by HashKey Custody Services, both licensed by Hong Kong’s Securities and Futures Commission. The ETF tracks the CME Group CF Solana Dollar Index for the Asia-Pacific region.
No leverage, no derivatives, and no staking of Solana holdings. Up to 3% of net asset value is held in cash to cover expenses and redemptions. Annual management fee sits at 0.6%, with a total expense ratio of 1.6% annually. Moreover, no dividends are planned.
The Competitive Landscape
ChinaAMC already operates a spot Solana ETF on HKEX, ticker 03460, with an annual management fee of 0.99% and a total expense ratio of 1.99%. Pando’s 1.6% expense ratio gives it a cost advantage that could attract fee-sensitive investors comparing the two products.
Globally, spot Solana ETFs now hold approximately $1.9 billion in net assets with around $1.61 billion in cumulative net inflows, numbers that reflect genuine institutional appetite for regulated SOL exposure rather than speculative interest.
Price Impact on Solana
This doesn’t move SOL’s price on announcement alone, but the structural effect matters over time. As inflows build, that buying pressure becomes consistent.
The ChinaAMC fund’s reception in Hong Kong showed retail and institutional demand for regulated Solana exposure. Pando’s lower fee structure could pull additional capital into the space, capital that has to flow through actual SOL purchases.
On the other hand, Solana (SOL) is currently trading at $111.73 after a 2.2% gain in value. The volume is settled at $2.475 billion, with its 24-hour range falling between $109.17 and $113.22. Furthermore, the seven-day trading range
Is found between $105.85 and $121.91.
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