Hong Kong-based asset manager Pando will list its spot Solana exchange-traded fund on October 13, adding a second option for investors seeking regulated exposure to the token in the city. The fund will carry an annual management fee of 0.60%, according to details disclosed by the firm.
The listing lands more than a month after ChinaAMC's own spot Solana ETF began trading in Hong Kong. That fund held $8.58 million in assets at the end of August, the most recent figure available from the company.
A second choice for Solana exposure in Hong Kong
Pando's product doesn't break new ground in the way ChinaAMC's did when it became the first spot Solana ETF in the city. Instead, it gives investors a direct comparison point. Both funds track the same underlying asset — Solana, the blockchain network whose native token ranks among the larger cryptocurrencies by market value. Both are listed in Hong Kong, a market that has moved more deliberately than the U.S. on approving spot crypto ETFs beyond Bitcoin and Ether.
The fee difference could matter to cost-conscious buyers. At 0.60%, Pando's management fee sits in a range that's typical for newly launched crypto ETFs in Asia, though the company hasn't said whether it will offer temporary waivers or other incentives to attract early assets. ChinaAMC's fee structure wasn't detailed in the figures available.
Why Hong Kong keeps adding crypto ETFs
Hong Kong's securities regulator has taken a step-by-step approach to spot crypto funds over the past two years, first clearing Bitcoin and Ether products, then allowing Solana. The city's market is smaller than the U.S. one, but it functions as a testing ground for issuers looking to serve investors across Asia who want regulated crypto exposure without holding tokens directly.
For Solana specifically, the token has drawn interest because of its speed and low transaction costs compared with Ethereum, though it has also suffered network outages in the past. ETF issuers don't bet on the technology — they provide a wrapper for the price. The competition between Pando and ChinaAMC comes down to fees, liquidity, and distribution reach.
What the $8.58 million figure tells us
ChinaAMC's Solana ETF held $8.58 million at the end of August. That's a modest figure by global standards, but it reflects the early stage of Solana ETFs in Hong Kong. For context, spot Bitcoin ETFs in the U.S. collectively hold tens of billions of dollars, but those trade in a much larger market with more than a decade of crypto ETF infrastructure built up since 2021.
The August asset level for ChinaAMC's fund is the only hard number available for a Hong Kong Solana ETF so far. Pando's launch will give the market a second data point, and the two firms will likely be compared on inflows within the first weeks of trading. Neither company has published a projected asset target.
What to watch after October 13
The first few days of trading will show whether Pando's fund attracts meaningful volume or splits an already small pool of Solana ETF assets in Hong Kong. A second listing can grow the overall pie if it draws new investors, but it can also simply redistribute existing demand.
Investors looking at either fund should check the tracking difference — how closely the ETF's price follows Solana's spot price — and the spreads on the Hong Kong exchange. The 0.60% fee is an annual charge, so it compounds against returns over time. Pando hasn't said whether it will publish a daily asset tally, as some issuers do, or how it will handle the logistical side of creating and redeeming shares.
The October 13 date is fixed. What isn't fixed is whether Hong Kong's Solana ETF market can support two products at a time when crypto prices remain volatile and regulatory attention on the sector stays high.
