🌟🚀 Brazil's CVM Gives Green Light to Solana-Based ETF! 🚀🌟

The Brazilian Securities Commission (CVM) recently approved a Solana-based exchange-traded fund (ETF) $SOL , a first in the country and one of the first products of its kind globally! However, this product still needs to obtain approval from the local stock exchange, B3.

The first Solana-based ETF was launched by 21Shares in Switzerland on the SIX exchange in June 2021. Now, Brazil is following this revolutionary trend with QR Asset, a Brazilian asset manager, which will offer this ETF, while Vortx, a local fintech specialized in capital markets, will be its manager.

This initiative, still in the pre-operational phase, demonstrates QR Asset's commitment to offering quality and diversified options to Brazilian investors. Theodoro Fleury, Director of QR Asset, said: "This ETF reaffirms our commitment to offering quality and diversification to Brazilian investors. We are proud to be global pioneers in this segment, consolidating Brazil's position as a leading market for regulated crypto-asset investments."

Brazil is already fertile ground for ETFs, with Bitcoin and Ethereum ETFs listed on the B3 between 2021 and 2022, and more recently, BlackRock's iShares Bitcoin Trust ETF (IBIT) in March 2024.

#Solana⁩ #BRICS #ETFApproval2024

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