Brazil’s SEC Approves The Country’s First Solana ETF
The Brazilian Securities and Exchange Commission (CVM) has approved a Solana ETF (exchange-traded fund), the first investment product of its kind in the country. Following the disclosure in the CVM’s central database on Aug. 7, the product is still in its pre-operational phase awaiting approval from Brazil’s main stock exchange, B3. SOL Barely Reacts To Brazil’s Solana ETF Approval A local news organization by the name of Exame reported that the newly-approved Solana ETF will follow the CME CF Solana Dollar Reference Rate, which was created by the CF Benchmarks with the support of the Chicago Mercantile Exchange (CME). This index is a benchmark rate that aims to provide a reliable dollar rate for SOL. Local asset manager QR Asset will offer the ETF, while Brazilian fintech Vortx will serve as the product’s manager, the report added. This new fund will also be among the first launched globally. Swiss investment product provider 21Shares launched the first ...