The Brazilian Securities and Exchange Commission (CVM) has approved a second exchange-traded fund (ETF) based on the cryptocurrency Solana (SOL).
CVM Approval
The approval, announced on the CVM’s central database, opens the way for broader access to Solana investments for Brazilian investors.
Hashdex Management Company
Currently in the pre-operational phase, the newly approved Solana ETF will be managed by Hashdex, a leading asset management firm based in Brazil. Hashdex, which has over $962 million in assets, has partnered with local investment bank BTG Pactual to offer this latest ETF.
Previous ETFs by Hashdex
Hashdex is no stranger to the ETF market on the B3 Brazil exchange. The firm has previously launched several successful cryptocurrency-related products, including the Nasdaq Crypto Index as well as ETFs based on Bitcoin and Ethereum. This latest approval follows CVM’s decision to approve the country’s first Solana ETF, offered by another Brazil-based asset manager, QR Asset, on August 8.
The new CVM approval provides additional opportunities for Brazilian investors looking to invest in Solana cryptocurrency.
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