- Approval of the Second Solana ETF
- Hashdex and BTG Pactual: New Project
- First ETF by QR Asset Management
Brazil has made another move forward in the cryptocurrency field by approving a second Solana ETF. The Brazilian Securities and Exchange Commission (CVM) has updated its central database to reflect this new development.
Approval of the Second Solana ETF
This new Solana ETF, still in its pre-operational phase, will be launched by Hashdex, a local asset manager with an impressive track record of over $962 million in assets under management.
Hashdex and BTG Pactual: New Project
Hashdex is teaming up with BTG Pactual, a major investment bank in Brazil, to bring this ETF to market. This isn't Hashdex's first crypto-based ETF; they have already launched ETFs for the Nasdaq Crypto Index and big names like Bitcoin and Ethereum.
First ETF by QR Asset Management
Prior to Hashdex's approval, QR Asset Management had already received approval for the first Solana ETF in the country on August 8. This ETF was designed to provide Brazilian investors with access to the Solana ecosystem without the complications of directly buying and storing SOL tokens. The ETF tracks the CME CF Solana Dollar Reference Rate, a pricing index developed by the Chicago Mercantile Exchange (CME) and CF Benchmarks. This index pulls data from various crypto exchanges to ensure a solid valuation for Solana and that the ETF price reflects real market conditions. QR Asset's ETF is also in its pre-operational stage, awaiting final approval from the B3 stock exchange. Its launch is expected within the next two months, according to sources close to the matter.
In conclusion, the approval of the second Solana ETF in Brazil opens new opportunities for investors and highlights the growing interest in cryptocurrencies in the country.
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