Pando Finance Launches Solana ETF on HKEX Scheduled for October 13, 2026

Pando Finance is preparing to debut its Solana ETF on the Hong Kong Stock Exchange (HKEX) on October 13, 2026, under the ticker 2831.HK. This launch represents the second spot Solana ETF available in Hong Kong, following the earlier introduction of a similar product by Huaxia.

The Pando Finance ETF is a passive investment vehicle that tracks the CME CF Solana Dollar Index, specifically the variant based on the Asia Pacific closing price. Subscriptions for the fund were open from October 6 to 12, with an indicative issue price ranging from HKD 7.8 to 8.0 per share, requiring an initial investment of approximately HKD 800 for a lot of 100 shares. The management fee is set at 0.6%, while the estimated ongoing charges ratio is higher at 1.6%, indicating that the total cost of holding the fund will exceed the management fee. Notably, the fund will not pay dividends and will not employ leverage, providing investors with direct, 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 necessary licenses to allocate 100% of its portfolio to virtual assets, allowing for a fully crypto-backed fund.

This launch is significant for institutional investors who may have restrictions on direct cryptocurrency holdings, as a licensed exchange-listed fund can facilitate compliance with such mandates. The introduction of Pando's Solana ETF is expected to be closely monitored, particularly in comparison to Huaxia's existing product, as both funds will be evaluated based on cost, trading volume, and tracking accuracy.