Pandu Asset Management announced the launch of its spot ETF on Solana on the Hong Kong Stock Exchange on October 13. This will be the city's second investment product providing direct access to SOL. Subscription for the fund's shares (02831) is open from October 6 to 12, with share prices ranging from HK$7.80 to HK$8 per share, and the minimum trading lot is 100 shares. The minimum purchase cost will be approximately HK$800, excluding brokerage and other applicable fees. The fund's base currency is the US dollar, but shares will be traded in Hong Kong dollars.
The annual management fee for the fund will be 0.6%, which is lower than the 0.99% of the ChinaAMC fund, which already offers an ETF on Solana. The expected annual ongoing charges ratio for the Pandu fund is 1.6% compared to 1.99% for ChinaAMC. The fund does not plan to pay dividends. For SOL operations, Pandu has chosen HashKey Exchange, and asset custody will be handled through HashKey Custody Services. According to the fund's documents, the maximum asset allocation can be up to 100% of its net asset value; however, the fund will not use staking, derivatives, or leverage. Cash may occupy up to 3% of net assets to cover operational expenses and redemption settlements.
The fund is structured as a passive investment product that will buy and hold Solana through licensed virtual asset trading platforms in Hong Kong. The performance benchmark is the CME CF Solana Dollar Reference Rate based on the Asia-Pacific closing price.
The fund documents warn of risks: the price of SOL is subject to significant fluctuations, and in 2022 it fell by more than 42% in one day. The documents warn that such price movement could lead to substantial losses for ETF shareholders, up to the loss of the entire investment amount.
The launch of the Pandu fund on Solana follows the introduction of ETFs on Bitcoin and Ethereum, making Solana the third ETF offering from the company in Hong Kong. The first spot ETF on Solana in Hong Kong, ChinaAMC (03460), received approval from the Securities and Futures Commission in October 2025 and was launched on October 27.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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