Key Takeaways:
- The Brazilian Securities and Exchange Commission (CVM) has approved the first Solana-based exchange-traded fund (ETF) in Brazil.
- QR Asset will offer the ETF, with Vortx managing it, pending approval from the Brazilian stock exchange (B3).
- This approval underscores Brazil’s increasing acceptance and leadership in regulated crypto asset investments.
The Brazilian Securities and Exchange Commission (CVM) has approved the first Solana-based exchange-traded fund (ETF) in Brazil.
This ETF, still in its pre-operational phase and pending approval from the Brazilian stock exchange (B3), will track the CME CF Solana Dollar Reference Rate.
🚨 BREAKING BIG:
— SolanaFloor (@SolanaFloor) August 7, 2024
Brazil's Regulators have approved the launch of the world’s first spot $SOL ETF. pic.twitter.com/1ec9ftpCj1
QR Asset, a Brazilian asset manager, will offer the ETF, with Vortx managing it.
This move positions Brazil as a leader in regulated crypto asset investments.
Previously, Brazil’s B3 has listed Bitcoin and Ethereum ETFs.
🚨 BREAKING: Regulators In Brazil Approve The World's First $SOL Spot ETF.
— JAKE (@JakeGagain) August 7, 2024
ETF Trading Is Expected To Start For The Solana ETF In August. pic.twitter.com/gm4OLJ38C9
The ETF’s approval highlights the country’s growing acceptance of crypto investments.
Additionally, in July, Cboe requested the SEC to allow VanEck and 21Shares to launch a Solana-based ETF in the U.S., still awaiting approval.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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