Pandu prices Hong Kong's second spot Solana ETF 0.39 points under ChinaAMC
Pandu Asset Management lists Hong Kong's second spot Solana ETF on October 13 at a 0.6% management fee against ChinaAMC's 0.99%. The estimated ongoing charge is 1.6% against 1.99%, so a holder saves 0.39 points a year.
The Investor · Invest desk
Four figures: Pandu's estimated ongoing charge is 1.6% a year, against 1.99% for ChinaAMC. Its management fee is 0.6%, against 0.99%. The saving is HK$3,900 a year on a HK$1m position. The minimum entry is about HK$800 for a 100-share lot, before brokerage.
| Figure | Value | Note | Claim |
|---|---|---|---|
| Pandu est. ongoing charge | 1.6% a year | ChinaAMC: 1.99% | 4 |
| Pandu management fee | 0.6% a year | ChinaAMC: 0.99% | 2 |
| Saving on a HK$1m position | HK$3,900 a year | 16 | |
| Minimum entry, approx. | HK$800 | One 100-share lot, before brokerage | 3 |
What happened
- Subscriptions run from October 6 to 12 at an indicative HK$7.80 to HK$8 a share, in lots of 100, so the minimum entry is about HK$800 before brokerage.
- HashKey Exchange will execute the fund's SOL trades and HashKey Custody Services will hold the tokens.
- ChinaAMC's Solana ETF (03460) is the incumbent: the Securities and Futures Commission approved it in October 2025 and it was scheduled to list on October 27 that year.
- Spot Solana ETFs worldwide hold about $1.9 billion in net assets and have drawn about $1.6 billion in cumulative inflows, according to a Solana official statement cited by Cryptobriefing.
Why it matters
- What it costs cost On a HK$1m position the 0.39-point gap is HK$3,900 a year, and it goes to holders who pick Pandu at entry or switch to it.
- What it limits constraint Pandu's fund will not stake, use derivatives or leverage, or pay dividends, so a holder's return is SOL's price change less the 1.6% estimate, with no income to offset it.
- What's now possible capability Per Cryptobriefing.com, a listed fund from a licensed manager can satisfy mandates that bar direct crypto holdings, and two issuers now give those buyers a fee to compare.
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The saving looks bigger on the fee line than on the bill. Taking 0.39 points [11] off ChinaAMC's 0.99% is a 39% cut [13], but the same 0.39 points off its 1.99% estimated ongoing charge is about 20% [14], because both funds carry an identical 1.0 point between management fee and ongoing charge [9].
In money the difference is small. On an HK$800 lot at the issue price, 1.6% is HK$12.80 a year and 1.99% is HK$15.92, a gap of HK$3.12 [15]. Cryptobriefing.com expects the two funds to be compared on cost, trading volume and tracking accuracy, and says the 1.6% estimate will be a key data point [18]. (That outlet writes Pando Finance and Huaxia where crypto.news writes Pandu and ChinaAMC; the tickers, 2831 and 03460, line up across both, so we treat them as the same two funds [1][5][17].) Any spread or tracking shortfall beyond 0.39 points a year, relative to ChinaAMC's fund, would erase the saving [12].
Nothing in either source reaches beyond Hong Kong, where the market described is two funds on one exchange [1]. That is a thin base for calling this fee competition across Asia, or rather, for calling it competition at all. None of the sources reports either fund's assets or volume, ChinaAMC's response, or whether ChinaAMC's fund stakes, so a 0.39-point gap could be offset by income we cannot see.
ChinaAMC can match Pandu toward 0.6% or hold at 0.99% and compete on volume and tracking. We think it holds. It was scheduled to list 351 days before Pandu [10], and a cut gives up 0.39 points on every dollar already in its fund whether or not any holder switches [11]. We would be wrong if ChinaAMC announces a cut within weeks of the Pandu listing.
What to watch
- Pandu's first published ongoing charge against its 1.6% estimate.
- Trading volume and tracking error of 2831 against 03460 in the first weeks, the two comparisons Cryptobriefing expects to follow cost.
- Any further spot SOL fund listing in Hong Kong or elsewhere in Asia, which would test a regional reading of the fee gap.
Information, not investment advice. This story is general information about companies and markets, drawn from cited reporting. It is not a recommendation to buy, sell or hold any security; check the cited sources before acting.
Clarity's read
What the record supports and how the coverage leans. The claims behind it follow.
Reality
- Evidence62
- Adoption
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- Hype gap+20
- Incentives
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Claim ledger
Ranked by verification strength, evidence, and original report placement.
- [1]
Pandu Asset Management plans to list its spot Solana ETF (02831) on the Hong Kong Stock Exchange on October 13, becoming Hong Kong's second investment product offering direct exposure to SOL.
- [2]
Pandu's spot Solana ETF will charge a 0.6% annual management fee, compared with 0.99% for ChinaAMC's existing Solana ETF.
- [3]
Subscriptions run from October 6 to 12 at an indicative issue price of HK$7.80 to HK$8 per share, in lots of 100 shares, a minimum entry cost of approximately HK$800 before brokerage and other fees.
- [4]
Pandu's estimated annual recurring expense ratio is 1.6%, against 1.99% for ChinaAMC's Solana ETF.
- [5]
ChinaAMC's Solana ETF (03460) was Hong Kong's first spot Solana fund; the Securities and Futures Commission approved the first Solana ETF in October 2025, with ChinaAMC scheduled to introduce it on October 27 that year.
- [6]
The fund will not pay dividends, so returns depend entirely on price movement minus fees.
- [7]
Pandu's ETF will not commit its SOL holdings to network validators, so investors receive no staking rewards; the fund's rules also prohibit derivatives and leverage.
- [8]
HashKey Exchange will execute the fund's Solana transactions and HashKey Custody Services will safeguard the underlying cryptocurrency.
- [9]
Each fund carries 1.0 percentage point between its management fee and its estimated ongoing charge.
- [10]
ChinaAMC's fund was scheduled to list 351 days before Pandu's October 13, 2026 listing.
- [11]
The management fee gap is 0.39 percentage points.
- [12]
The estimated ongoing charge gap is 0.39 percentage points.
- [13]
The 0.39-point gap is a 39% cut to ChinaAMC's management fee.
- [14]
The 0.39-point gap is about 20% of ChinaAMC's 1.99% estimated ongoing charge.
- [15]
On an HK$800 lot, the estimated ongoing charge is HK$12.80 a year at Pandu and HK$15.92 at ChinaAMC, a gap of HK$3.12.
- [16]
On a HK$1m position the 0.39-point ongoing charge gap is HK$3,900 a year.
- [17]
Cryptobriefing.com names the issuer Pando Finance, with a fund trading under ticker 2831.HK from October 13, 2026, and calls the existing Hong Kong Solana fund Huaxia's, trading under 03460.
- [18]
With the ChinaAMC fund already in the market, the two Solana funds will be compared on cost, trading volume and tracking accuracy, and the 1.6% estimated ongoing charges will be a key data point in that comparison.
- [19]
For institutions with mandates that bar direct crypto holdings, an exchange-listed fund from a licensed manager can be the difference between not allowed and approved.
- [20]
Globally, spot Solana ETFs hold about $1.9 billion in net assets and have drawn around $1.6 billion in cumulative inflows.
Sources
2 independent publishers whose own reporting we read for this story.
- crypto.newsPandu to launch Hong Kong’s second spot Solana ETF on October 13
1 article · October 11, 2026
- cryptobriefing.comPando Finance to launch Solana ETF on HKEX October 13
2 articles · October 11, 2026
Topics and entities
Topics
- Hong Kong crypto ETFs
- ETF fees and costs
Entities
- Hong Kong Stock Exchange
- Pandu Asset Management
- Securities and Futures Commission
- HashKey Exchange