Apple Supplier Luxshare Faces US Patent Probe, Sees Limited Impact 
Morgan Stanley Raises Coinbase Stock Price Target to $258 Ahead of Earnings 
BNB Price Faces Pressure as DOJ Investigates Binance 
Ethereum Foundation-Linked Wallets Move $11.13M in ETH to Kraken 
XRP Holds Steady at $1.39 as Crypto Market Faces Heavy Liquidations 
Apple Supplier Luxshare Sees Limited Impact From US Patent Probe 
MSTR Stock Rises as Barclays Raises Price Target to $175 
Stellar Overtakes Ethereum in RWA Fund Inflows as XRP Leads Commodities 
XRP Price Holds $1.35 Support as Bears Target $1.25 
Dogecoin Price Rises as Bitwise Plans DOGE ETF Closure 
Solana Whale Moves $51M in SOL to Coinbase Amid Price Drop 
Zcash Plans Quantum-Resistant Security Upgrade for January 
Blockchain.com Seeks CFTC Approval for Prediction Markets and Crypto Derivatives 
GRAM Price Jumps 9% as Telegram Expands Money Wallet 
European Auto Stocks Rise as EU-China Trade Deal Targets Hybrid Imports 
Add as a preferred source on Google
Hong Kong is expanding its cryptocurrency investment market as Pando Finance prepares to launch the city’s second spot Solana ETF on October 13, 2026. The new exchange-traded fund, listed under ticker 02831 (2831.HK) on the Hong Kong Stock Exchange (HKEX), will compete directly with ChinaAMC’s existing Solana investment product.
Pando Finance aims to attract investors through lower fees, charging an annual management fee of 0.6% and an estimated ongoing charges ratio of 1.6%. By comparison, ChinaAMC’s spot Solana ETF (03460) charges a 0.99% management fee and has a 1.99% ongoing expense ratio.
The pricing difference could intensify competition in Hong Kong’s growing digital asset ETF market as institutional and retail investors seek affordable exposure to Solana (SOL).
Pando’s passively managed ETF tracks the CME CF Solana Dollar Index using its Asia-Pacific closing price benchmark. Unlike leveraged cryptocurrency products, the fund holds physical SOL without staking, derivatives, or borrowed exposure.
The portfolio may maintain up to 3% in cash to support operating expenses and investor redemptions. Although its base currency is the US dollar, shares will trade in Hong Kong dollars.
The fund’s indicative issue price ranges between HK$7.80 and HK$8.00 per share, with a minimum trading lot of 100 shares. This places the initial investment requirement at approximately HK$800, excluding transaction fees.
HashKey Exchange and HashKey Custody Services will handle trading and asset custody arrangements, according to an HKEX circular issued October 9.
The launch marks Pando Finance’s third spot cryptocurrency ETF following its Bitcoin and Ethereum products.
Meanwhile, global demand for regulated Solana investments continues to strengthen. According to Solana’s official social media account, spot SOL ETFs worldwide have accumulated approximately $1.9 billion in net assets and $1.61 billion in cumulative net inflows.
Hong Kong previously established itself as an Asian cryptocurrency ETF hub through its spot Bitcoin and Ethereum ETF launches in 2024.
With Pando entering the market, competition is shifting toward management costs, liquidity, and investment accessibility.
Investors will closely monitor the new Solana ETF’s initial trading volume, fund inflows, and premiums or discounts to net asset value to determine whether its lower fees can challenge ChinaAMC’s established position.
