Pando Finance lists Hong Kong's second spot Solana ETF on October 13

Pando Finance scheduled its spot Solana exchange traded fund, ticker 02831, for listing on the Hong Kong Stock Exchange on October 13, and Bitcoin Insider reported on October 12 that as of that date the listing remained scheduled rather than completed, with no launch holdings or trading record yet published. Subscriptions ran from October 6 to October 12 at an indicative price of HK$7.80 to HK$8 a share, in board lots of 100 shares, so the minimum entry cost worked out at roughly HK$800 before brokerage charges; the fund's base currency is the US dollar while the shares trade in Hong Kong dollars. It is Hong Kong's second spot Solana ETF after ChinaAMC's 03460, and Pando charges a 0.6% annual management fee against ChinaAMC's 0.99%, with an estimated ongoing charges figure of 1.6% for Pando against 1.99% for ChinaAMC. Bitcoin Insider, writing as an aggregator, noted that the 0.6% management fee is only one expense and that Pando caps ongoing charges at 1.6% from launch through October 13, 2027, with expenses above the cap borne by the manager during that period; that article also said the cap is not presented as permanent and that adding the two percentages would double-count the management component. The fund buys and holds SOL through HashKey Exchange with custody at HashKey Custody Services, tracks the CME Group CF Solana Dollar Index for the Asia-Pacific region, holds up to 3% of net asset value in cash, and does not use staking, leverage, derivatives or dividend payouts. Two outlets placed the launch against a weak flow backdrop: U.Today and Crypto News reported roughly $1.9 billion in global net assets with $1.61 billion of cumulative net inflows as of October 12, while Crypto News on October 13 cited more than $30 million of outflows this month and SOL down over 5%, failing to hold above $120. What remains unclear from the evidence is how the fund actually trades once listed, and no outlet in the set reported post-launch performance.