$SOL Hong Kong just opened a Solana ETF fee war. Pando Finance is launching Hong Kong’s second spot Solana ETF on HKEX tomorrow, October 13 — ticker 2831.HK — with a 0.6% management fee, undercutting ChinaAMC’s existing SOL ETF at 0.99%. This is no longer just about regulated access to $SOL. It is about who captures Asia’s institutional capital. Why it matters: Pando’s fund holds actual SOL — no staking, leverage, or derivatives. It tracks the CME CF Solana Dollar Index, with trading and custody handled by HashKey. Global spot Solana ETFs now hold roughly $1.9B in net assets, with about $1.61B in cumulative net inflows. Hong Kong was the first Asian market to approve spot BTC and ETH ETFs — and now it is building a competitive SOL product market. The real signal will not be the launch headline. It will be first-day volume, creation/redemption flows, and whether the fund trades at a premium or discount to NAV. Lower fees can attract capital. Sustained inflows prove demand. Asia is building a regulated Solana pipeline — and Wall Street is watching. #Solana #SOL #ETF #HongKong #Web3