A Second Spot Solana ETF Is Coming To Hong Kong

**Source:** https://x.com/solana/status/2109494266066260193 BREAKING: A second spot Solana ETF is coming to Hong Kong. Pando Solana ETF (https://2831.HK) is set to list on HKEX on 13 October. Globally, spot SOL ETFs hold $1.9B in net assets, with $1.61B in cumulative net inflows. https://preview.redd.it/x3f8k3twyyuh1.png… Read more: https://inews.hket.com/article/4206762#google\_vignette # 【cryptocurrency】Hong Kong’s second Solana spot ETF is expected to debut at an annual recurring expense ratio of 1.6% on 10.13 https://preview.redd.it/bpileuf1zyuh1.png… AI Summary * Pan Du releases Hong Kong's second Solana spot ETF * The admission fee is about 800 yuan per lot and will be listed on October 13th * Trade through a licensed platform, no pledge and leverage involved Pandu will launch its subsidiary Pandu Solana ETF (02831) , subscribed from October 6th to 12th, and expected to be listed on October 13th. Each lot is bought and sold in 100 shares, with the US dollar as the base currency and traded in Hong Kong dollars. Brokerage subscription information shows that the subscription price per share ranges from 7.8 yuan to 8 yuan, without handling fees, and the admission fee is 800 yuan. Pandu said that the ETF management fee is 0.6% per year, the estimated annual recurring expenditure ratio is 1.6%, and no dividends are planned. This is the third virtual asset spot ETF launched by Pandu after Bitcoin ETF and Ethereum ETF, and the second Solana spot ETF in Hong Kong; the first similar product in Hong Kong is China Solana ETF (03460) . The management fee of China Solana ETF is 0.99% per year, and the annual recurring expenditure ratio is 1.99%. More Solana related articles: cryptocurrency ｜ Morgan Stanley is listed on SEC Shen Bitcoin, Solana spot ETF [Cryptocurrency ｜ Hong Kong’s first Solana ETF has been approved as a spot ETF for another cryptocurrency besides Bitcoin Ethereum](https://inews.hket.com/article/4025751/?l…) [Cryptocurrency ｜Solana plummeted when the foundation chairman appeared in Hong Kong: We still have a long-awaited vision for Web3 mainstreaming](https://inews.hket.com/article/4032456/?l…) # Hong Kong's second Solana spot ETF Pandu Solana ETF is a passive ETF that directly invests in Solana through the virtual asset trading platform licensed by the China Securities Regulatory Commission. The investment amount can reach up to 100% of the fund's net asset value. The goal is to provide investment that is close to the Asia-Pacific closing price performance of CME Group's CF Solana U.S. Dollar Index. return. The fund will not use the Solana it holds as a pledge, nor will it invest in financial derivatives or use leverage. It can retain cash equivalent to up to 3% of net asset value to pay current expenses and meet redemption needs. Pandu stated that the Solana transaction would be conducted through HashKey Exchange, with the related assets being held in custody by HashKey Custody Services.   **Pandu Solana ETF - Passive ETF** * Tracking: CME Group CF Solana USD Index (Asia Pacific closing price) * Issue price: 7.8 - 8.0 yuan per share * Each lot: 100 shares, admission fee is 800 yuan * Code: 02831 * Subscription period: October 6th - 12th * Estimated listing date: October 13 # What is Solana? Solana is a decentralized blockchain network launched in 2020. It is mainly characterized by fast transaction speed and low cost. It is suitable for DeFi, GameFi and NFT applications. SOL is the native token of the Solana network and can be used to pay transaction fees, pledge and participate in network operations. SOL is also one of the virtual assets that retail investors can buy and sell in Hong Kong. Investors can buy and sell through a virtual asset trading platform licensed by the Securities and Futures Commission and providing SOL retail trading services. Taking the licensed trading platform HashKey as an example, virtual asset transactions approved for retail investors include Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX) and Chain Gram (LINK), as well as Solana (SOL). However, the document also warns that Solana prices are highly volatile and the fund value may fall significantly in a short period of time, even to zero. For example, the largest single-day decline in 2022 was more than 42%; investors may lose all their investments.