Hong Kong's Second Spot $SOL ETF Lands Oct 13 — Pando Slashes Pando… Wait, Pando Slashes ChinaAMC 🪓

Hong Kong is adding a second spot Solana ETF to its exchange, with Pando Finance Limited set to debut its passively managed Solana fund (02831 / 2831.HK) on the Hong Kong Stock Exchange (HKEX) on October 13. The listing deepens regulated Asian access to $SOL and opens a direct price war with ChinaAMC's incumbent product.

Pando Finance's fund carries an annual management fee of 0.6%, with an estimated ongoing charges ratio of 1.6%, figures that undercut ChinaAMC's spot Solana ETF (03460), which charges a 0.99% management fee alongside a 1.99% ongoing expense ratio. Subscription applications for the Pando product opened October 6 and close October 12, with an indicative issue price range of HK$7.80 to HK$8 per share. Investors can apply in lots of 100 shares, putting the minimum entry at around HK$800 before brokerage and other applicable fees.

According to the Pando Finance announcement and supporting coverage, the fund is structured to provide direct exposure to $SOL, with trading and custody handled through HashKey. Global spot Solana ETFs collectively held roughly $1.9B in net assets at the time of the launch disclosure, a figure that frames Hong Kong's growing role in the Asian $SOL ETP landscape.

ChinaAMC retains first-mover status in Hong Kong for spot Solana products, but Pando's pricing resets the competitive bar for new entrants targeting the same investor base. The October 13 listing confirms that Hong Kong's spot Solana ETF segment now features at least two competing issuers operating under the same regulatory regime.

Both funds offer Hong Kong-listed, exchange-traded access to $SOL, and Pando's lower headline fee versus ChinaAMC's established product sets up the city's first explicit fee competition in spot Solana ETPs.