IMPORTANT POINTS:
- New Solana ETF in Brazil: CVM approves a second Solana ETF, developed by Hashdex in collaboration with BTG Pactual, expanding the offering of crypto assets in Brazil.
- Hashdex’s Leadership in Crypto ETFs: Hashdex continues to innovate in the B3 ETF market with products including Bitcoin, Ethereum, and now Solana.
- First Solana ETF by QR Asset Management: QR Asset pioneered the first Solana ETF in Brazil, making it easy to invest in cryptocurrencies without the hassle of direct token management.
CVM approves a second Solana ETF
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Brazil continues to strengthen its position in the cryptocurrency sector with the recent approval of a second Solana exchange-traded fund (ETF) by the Securities and Exchange Commission (CVM). This new ETF is being developed by Hashdex, a local asset manager with an impressive portfolio of over 962 million in assets under management.
Hashdex is not alone in this endeavor; it has the collaboration of BTG Pactual, one of the leading investment banks in Brazil. This new Solana ETF is still in the pre-operational phase and joins the list of innovative products that Hashdex has introduced on B3, Brazil’s main stock exchange, including ETFs based on the Nasdaq Crypto Index, Bitcoin and Ethereum.
Solana’s First ETF in Brazil
Prior to the approval of this new ETF, QR Asset Management had already marked a milestone with the launch of the first Solana ETF in the country on August 8. This product was designed to offer Brazilian investors a more accessible way to invest in the Solana ecosystem, avoiding the complications of buying and storing SOL tokens directly.
QR Asset Management’s ETF tracks the CME CF Solana Dollar Reference Rate, a price index developed by the Chicago Mercantile Exchange (CME) and CF Benchmarks. This index compiles data from various cryptocurrency exchanges to provide a robust valuation of Solana, ensuring that the ETF’s price reflects real market conditions.
Final Stages and Launch Expectations
Both the new Hashdex ETF and QR Asset Management’s ETF are in the pre-operational phase, pending final approval from the B3 to begin official trading. QR Asset’s ETF is expected to begin trading in the next two months, further consolidating Brazil’s position as a relevant player in the global cryptocurrency market.
