Pando Finance Limited has announced plans to list its spot Solana exchange-traded fund (ETF) on the Hong Kong Stock Exchange, scheduled for October 13. This will mark Hong Kong’s second investment product offering direct exposure to Solana (SOL). According to the original report, the fund will feature a lower management fee compared to existing options.
- Pando Finance plans to list its Solana ETF on October 13 in Hong Kong.
- The ETF will have a proposed annual management fee of 0.6%.
- HashKey Exchange is planned to manage Solana transactions for the ETF.
The Scheduled Listing
The Pando Solana ETF is scheduled to be available for trading on the Hong Kong Stock Exchange, offering investors an opportunity to access Solana through a regulated product. The subscription period for the ETF ran from October 6 to October 12, with shares priced between HK$7.80 and HK$8. The fund’s structure is designed as a passive investment product, purchasing and holding Solana through licensed virtual asset trading platforms.
Management and Custody
The ETF will charge an annual management fee of 0.6%, significantly lower than the 0.99% charged by ChinaAMC’s existing Solana ETF. HashKey Exchange, a prominent player in digital asset services in Hong Kong, is planned to handle Solana transactions for the fund, while HashKey Custody Services will safeguard the assets. This setup ensures that the ETF operates without leveraging staking, derivatives, or leverage, focusing solely on direct exposure to Solana’s market value.
Regulatory Developments
This new ETF offering comes amidst several regulatory advancements in Hong Kong’s digital asset landscape. The Securities and Futures Commission has been active in expanding the regulatory framework for cryptocurrency trading and custody, as seen in recent policy addresses. For more information on institutional efforts and changes, visit our related institutional Solana coverage.
