Pando: Plans to Launch Physically Backed Ethereum ETF with Staking Mechanism in Hong Kong in the Second Half of the Year

On July 19th, according to the report of HK01, the "PandDuo Bitcoin ETF" (2818) issued by the licensed virtual asset management company PandDuo was listed in Hong Kong the previous day. During the trading period, it once surged by more than 13%. It closed at 7.98 Hong Kong dollars, with an increase of 0.129 Hong Kong dollars on that day, a 1.64% rise. Ren Junfei, the founder and CEO of PandDuo, revealed his intention to "further expand the territory" and planned to launch a physically-backed Ethereum ETF product with a pledge mechanism in the second half of this year in Hong Kong. When asked why there was no simultaneous launch of a physically-backed Ethereum ETF like other issuers this time, Ren Junfei disclosed that they planned to launch an Ethereum ETF with a pledge component this year. It is not just a simple spot-holding product but also incorporates an additional yield mechanism. They are currently in discussions with regulatory authorities regarding the protection of investor rights and specific operational directions such as the creation and redemption processes. The PandDuo Bitcoin ETF is a passive ETF that directly holds Bitcoin. The listing price is approximately 7.8512 Hong Kong dollars per unit, with a lot size of 100 shares and an entry fee of about 786 Hong Kong dollars. The management fee is 1%. BOC International-HK Trust Limited serves as the custodian and administrator, while OSL Digital Securities Limited acts as the Bitcoin custody sub-custodian.