The Brazilian Securities and Exchange Commission (CVM) has approved a second Solana ETF, expanding crypto investment options in the country, according to CVC data.
Brazil’s Securities and Exchange Commission has approved a second exchange-traded fund (ETF) linked to Solana, expanding crypto investment options in the country, according to data from Comissão de Valores Mobiliários (CVM).
The new ETF will be offered by Hashdex, a leading asset manager in collaboration with BTG Pactual, one of Brazil’s leading investment banks.
Hashdex is already present in the ETF market, having launched products like the Nasdaq Crypto Index and ETFs based on Bitcoin and Ethereum on the B3 Brazilian stock exchange. This partnership with BTG Pactual aims to bring another innovative product to Brazilian investors, further solidifying Hashdex’s presence in the crypto ETF space.
This new approval comes shortly after the CVM approved Brazil’s first Solana ETF, introduced by QR Asset Management, on August 8.
QR Asset’s ETF is still in its pre-operational stage, awaiting final approval from the B3 stock exchange, and is expected to launch in the next two months.
Both QR Asset and Hashdex’s Solana ETFs are designed to provide Brazilian investors with an easy way to access the Solana ecosystem without purchasing and storing SOL tokens directly. The ETFs will track the CME CF Solana Dollar Reference Rate, ensuring their prices accurately reflect real market conditions by pulling data from multiple crypto exchanges.
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