Market tone: Bullish
Vivian Nguyen · Crypto Briefing · 2026-10-12T05:08:35.000Z
Hong Kong is getting its second spot Solana fund, giving investors another regulated route to SOL through a brokerage account
Hong Kong is about to get a second spot Solana ETF. Pando Finance’s fund is scheduled to start trading on the Hong Kong Stock Exchange on October 13, 2026, under the ticker 2831.HK.
The fund is a passive vehicle. It tracks the CME CF Solana Dollar Index, specifically the variant built on the Asia Pacific closing price.
Subscriptions were open from October 6 to 12. The indicative issue price sits between HKD 7.8 and 8.0 per share.
Shares trade in lots of 100. That puts the entry ticket at approximately HKD 800 at issue.
The management fee is 0.6%. The estimated ongoing charges ratio is higher, at 1.6%, so the total cost of holding the fund runs well above the headline management fee.
The fund will not pay dividends. It also will not use leverage, so investors get plain, one-to-one exposure to the index.
An HKEX circular dated October 9, 2026, confirmed the fund’s eligibility along with its custody and settlement arrangements. Pando Finance holds the licenses needed to allocate 100% of a portfolio to virtual assets, which is what allows a fully crypto-backed fund like this to exist.
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Pando’s third act, Hong Kong’s second Solana fund
This is Pando Finance’s third spot virtual asset ETF. The firm previously launched Bitcoin and Ethereum products, so the Solana fund extends an existing lineup rather than marking a debut.
It is also not first to market with Solana in Hong Kong. Huaxia already launched a spot Solana ETF on the exchange, trading under 03460.
Globally, according to a Solana official statement, spot Solana ETFs worldwide hold about $1.9 billion in net assets and have drawn around $1.6 billion in cumulative inflows.
What this means for investors and the market
For institutions with mandates that bar direct crypto holdings, an exchange-listed fund from a licensed manager can be the difference between “not allowed” and “approved.”
With Huaxia already in the market, the two Solana funds will be compared on cost, trading volume and tracking accuracy. Pando’s 1.6% estimated ongoing charges will be a key data point in that comparison.
Pricing off the Asia Pacific close aligns the fund’s valuation with Hong Kong trading hours.
The lack of dividends means returns depend entirely on price movement minus fees.
Originally published by Crypto Briefing.