Quick answer: The Pando Solana ETF (stock code 2831) starts trading on the HKEX Main Board on Oct. 13, 2026, per an HKEX trading notice. It is Hong Kong’s second spot Solana ETF after ChinaAMC’s, holds SOL directly without staking, and carries an estimated 1.60% ongoing charge, per Pando Finance.
The Pando Solana ETF is set to give Hong Kong a second spot Solana fund. An HKEX trading arrangement notice says dealings in the fund, short name PANDO SOL, will begin on Tuesday, Oct. 13, 2026, under stock code 2831 with a board lot of 100 shares.
CryptoBriefing flagged the listing on Oct. 12, 2026, as the city’s second spot Solana ETF after ChinaAMC’s. Meanwhile, Solana trades near $112.6, up about 2.6% in 24 hours, on CoinGecko at 07:00 UTC on Oct. 12.
What is the Pando Solana ETF?
The fund is a passively managed, physically backed ETF run by Pando Finance Limited. According to Pando’s product page, it invests up to 100% of its net asset value directly in SOL and may keep up to 3% in cash for fees and redemptions.
Key details from Pando and the HKEX listing documents:
- Stock code: 2831 (Bloomberg: 2831 HK Equity), HKEX Main Board
- First dealing day: Oct. 13, 2026
- Board lot: 100 shares
- Trading currency: Hong Kong dollar; base currency: US dollar
- ISIN: HK0001372793
In addition, the fund will not use derivatives, leverage or securities lending. Pando also says it will not stake any of its SOL, so holders get price exposure only, not network staking rewards.
How does the Pando Solana ETF hold its SOL?
Custody is split across licensed Hong Kong firms. BOCI-Prudential Trustee Limited is the custodian, administrator and registrar. The SOL itself sits with Hash Blockchain Limited, acting through its associated entity HashKey Custody Services Limited, as sub-custodian.
Meanwhile, SOL trades run through SFC-licensed platforms, and Pando names HashKey Exchange as its trading venue. Most coins stay in cold storage. However, the product page warns some SOL may sit briefly in a hot wallet for creations and redemptions.
Eclipse Options (HK) and China Merchants Securities (HK) are listed as market makers.
What index does it track and what does it cost?
The ETF tracks the CME CF Solana-Dollar Reference Rate – Asia Pacific Variant, run by CF Benchmarks. The index sets one daily USD price for SOL at 4:00 p.m. Hong Kong time, using trades from 3:00 p.m. to 4:00 p.m. on venues such as Coinbase, Kraken, Bitstamp, Gemini, LMAX Digital and Crypto.com.
The management fee is 0.60% a year. Total ongoing charges are estimated at 1.60%, and Pando caps them at 1.60% of average net assets until Oct. 13, 2027, with any excess borne by the manager. As a result, it is a high fee next to large US funds. Investors should also budget for brokerage costs and possible premiums or discounts to NAV.
How does it compare with ChinaAMC’s Solana ETF?
The ChinaAMC Solana ETF became Hong Kong’s first spot SOL fund on Oct. 27, 2025. It trades under three counters: 3460 in HKD, 83460 in RMB and 9460 in USD. It tracks the same CME CF Asia Pacific index.
So far, demand there has been modest. For example, etnet data showed ChinaAMC’s fund with about US$4.11 million in total net assets as of Oct. 9, 2026. Pando’s single HKD counter will therefore compete for a small pool of money.
What does the listing mean for the Solana market?
On its own, a second Hong Kong fund is unlikely to move SOL much. For comparison, US spot Solana ETFs held about $1.73 billion after their net assets fell from $1.90 billion in the week to Oct. 9. That week saw about $24.8 million of outflows, per BeInCrypto, citing SoSoValue. We covered that pullback in our Solana ETF outflows report and the wider October crypto ETF outflows.
Instead, the bigger signal is structural. Hong Kong now has two regulated issuers offering spot SOL exposure, which widens access for Asian brokerage accounts. It also adds competition on fees and liquidity. Next, watch first-day turnover, the spread versus net asset value, and whether Pando’s assets grow past ChinaAMC’s. Pando’s own risk notes say the fund could be terminated if its size falls below US$5 million.
New to fund wrappers? Our guide on how crypto ETFs work explains creations, redemptions and premiums.
Pando Solana ETF FAQ
When does the Pando Solana ETF start trading?
The Pando Solana ETF begins trading on the HKEX Main Board on Tuesday, Oct. 13, 2026, under stock code 2831 and short name PANDO SOL, according to an HKEX trading arrangement notice.
Is the Pando Solana ETF the first Solana ETF in Hong Kong?
No. It is the second spot Solana ETF in Hong Kong. ChinaAMC listed the first one, with counters 3460, 83460 and 9460, on Oct. 27, 2025.
Does the Pando Solana ETF stake its SOL?
No. Pando Finance says the fund will not stake any of its SOL, so it offers price exposure only.
How much does the Pando Solana ETF cost?
Pando lists a 0.60% annual management fee and estimated ongoing charges of 1.60%. Ongoing charges are capped at 1.60% of average net assets until Oct. 13, 2027.
What is the minimum trade for 2831.HK?
Shares trade in board lots of 100 in Hong Kong dollars, so the minimum on-exchange purchase is 100 shares plus brokerage costs, per HKEX.
Not financial advice. This article is for information only. Crypto ETFs can lose value quickly. Always do your own research (DYOR) before investing.
Sources
- HKEX: PANDO SOL (02831) new listing trading notice
- HKEXnews: Pando Solana ETF listing documents and Product Key Facts
- Pando Finance: Solana ETF (2831.HK) product page
- CryptoBriefing: Pando Finance to launch Solana ETF on HKEX October 13
- ChinaAMC: ChinaAMC Solana ETF fund page
- etnet: CAM SOL (3460) ETF detail
- BeInCrypto: Solana ETFs end a 14-week buying streak
- CoinGecko: Solana price
