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CVM Approves Second Solana ETF in Brazil
The Brazilian Securities Commission (CVM) has approved the second Solana ETF, marking a significant milestone for cryptocurrency investments in Brazil. Discover the implications of this decision and what it means for investors and the crypto market.
Approval of a New Solana ETF by CVM
The Brazilian Securities and Exchange Commission (CVM) has officially granted approval for a second exchange-traded fund (ETF) focused on Solana (SOL). This significant development was revealed through an update in the CVM’s central database.
According to the information available in the CVM database, the upcoming Solana ETF is currently in a pre-operational phase and will be managed by Hashdex, a prominent asset management firm based in Brazil. Hashdex is known for its expertise in the ETF space and currently oversees assets exceeding $962 million.
This new fund is being launched in collaboration with BTG Pactual, a well-regarded local investment bank. Hashdex has established itself as a key player on the B3 Brazilian stock exchange, having successfully introduced various innovative financial products, including the Nasdaq Crypto Index and ETFs based on Bitcoin and Ethereum.
It’s noteworthy that on August 8, the CVM had previously approved Brazil’s first Solana ETF. This inaugural fund was offered by QR Asset, another asset management company in Brazil, marking a significant step forward for cryptocurrency investment options in the country.