Hong Kong Lists Its Second Solana ETF Today — Pando Fund Opens at a Lower 0.6% Fee While US Solana Funds Bleed
Hong Kong's stock exchange lists its second spot Solana ETF today, October 13. The new fund comes from Pando Finance and trades under the code 02831, giving investors direct exposure to Solana (SOL) through a regulated product, without buying or storing the coin themselves.
The entry price is small. Subscriptions ran from October 6 to 12 at about HK$7.80 to HK$8 per share, and one trading lot is 100 shares, so a lot costs roughly HK$800 before broker charges. The fund charges a 0.6% annual management fee, with estimated yearly expenses of about 1.6% — cheaper than ChinaAMC's existing Solana ETF in the city, which charges 0.99% and about 1.99% in expenses.
The fund holds SOL directly and follows the CME CF Solana-Dollar reference rate at its Asia-Pacific close. HashKey Exchange will handle the Solana trading, and HashKey Custody Services will safeguard the coins. There is no staking, no derivatives and no leverage, and no dividends are planned. This is Pando's third crypto spot ETF in Hong Kong, after its Bitcoin and Ethereum funds.
The timing is interesting for traders. In the United States, spot Solana ETFs just lost about $24.8 million in the week ending October 9 — their biggest weekly outflow — ending a run of 14 straight weeks of inflows, with Bitwise's BSOL leading the withdrawals. So Asia is opening a new door for Solana at the same moment US demand is cooling down.
For traders, the first few days of trading in Hong Kong will be the real test: strong early volume would show fresh Asian demand for SOL, while weak flows would match the softer US picture. The lower fee may attract price-sensitive buyers, but an ETF listing alone does not guarantee a price rise, and the fund's own documents warn that Solana can be highly volatile.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: The Crypto Times, crypto.news, SolanaFloor, CoinPaper