Pandu Asset Management, also referred to as Pando, is set to list its spot Solana exchange-traded fund on the Hong Kong Stock Exchange on October 13, 2026, creating Hong Kong’s second regulated investment product offering direct exposure to SOL. The fund, trading under stock code 02831, accepted subscriptions from October 6 through October 12, with an indicative issue price between HK$7.80 and HK$8.00 per share and a minimum trading lot of 100 shares, putting the minimum entry cost at around HK$800 before brokerage charges and other fees.
The new ETF carries an annual management fee of 0.6% and an estimated annual recurring expense ratio of 1.6%. By comparison, the existing ChinaAMC Solana ETF (03460) charges 0.99% annually and has an estimated recurring expense ratio of 1.99%. Pandu’s fund does not intend to distribute dividends. While the fund uses the US dollar as its base currency, its shares will trade in Hong Kong dollars on the local exchange.
Pandu has structured the product as a passive investment fund that can allocate up to 100% of its net asset value to Solana through virtual asset trading platforms licensed by Hong Kong’s Securities and Futures Commission. Its performance will be measured against the CME CF Solana Dollar Reference Rate Asia Pacific closing price. The fund will not stake SOL, use derivatives, or employ leverage. Cash holdings may account for up to 3% of net asset value to cover operating expenses and redemptions.
For trading and custody, Pandu selected HashKey Exchange to execute Solana transactions and HashKey Custody Services to safeguard the underlying cryptocurrency. The listing follows Pandu’s introduction of spot Bitcoin and Ethereum ETFs, making Solana its third cryptocurrency spot ETF product in Hong Kong.
This launch is part of a broader expansion of SOL investment products. Global spot Solana ETFs now hold approximately $1.9 billion in net assets, with cumulative net inflows reported at $1.61 billion. Hong Kong’s Securities and Futures Commission approved the first Solana ETF in October 2025, and ChinaAMC launched that product on October 27, 2025. The city introduced its first spot Bitcoin and Ethereum ETFs in April 2024.
The fund documents include volatility warnings: SOL has recorded a maximum single-day decline exceeding 42% during 2022, and investors could lose their entire investment. Still, the listing could broaden institutional and retail access to Solana in Asia and add momentum to Hong Kong’s regulated digital asset push, which includes planned stablecoin expansion, tokenized real-world assets, and around-the-clock settlement work under the HKMA’s EnsembleTX initiative.
