According to a statement from the party, the Spot SOL ETF will be developed by the Chicago Mercantile Exchange (CME) Group, one of the world's leading derivatives markets, in collaboration with Crypto Facilities
(
CF). The underlying price of the instrument will be the CME CF #Solana Dollar Reference Rate, a benchmark rate created to reliably and transparently measure the value of #SOL denominated in United States dollars (USD).
Marty Partee stated that transaction data from major #cryptocurrency exchanges will be used to provide consistent and accurate Solana price quotes. He also stated that the Solana Spot #ETF is currently in the pre-launch phase, indicating that the launch will take place in the near future.
this phase, the product will begin to attract initial investment from investors and will enter into formal agreements with service providers including administrators, managers and custodians. In addition, the fund will raise the assets needed to build the portfolio.
This endorsement underscores the growing interest and institutional confidence in SOL as a potential digital asset. Some cryptocurrency enthusiasts believe that the creation of a SOL ETF will revolutionize the financial industry due to its high performance, scalability and rapid growth rate.
Brazil is pushing for the creation of a spot SOL ETF amid growing optimism about crypto-industry products, while many other countries, especially the U. S. , are pushing for the creation of funds.
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