Footsteps of the Solana ETF in the US? 2nd Approval Arrives

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Bitcoinsistemi2024/08/20 21:54

By:Mete Demiralp

The Brazilian Securities and Exchange Commission (CVM) has given the green light to a second Solana ETF.

The approval, announced on the CVM’s central database, opens the way for broader access to Solana (SOL) investments for Brazilian investors.

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.

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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.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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