Brazil’s Securities and Exchange Commission (CVM) has approved the country’s first Solana-based exchange-traded fund (ETF).
The approval, granted on August 7, positions Brazil ahead of other countries, particularly the United States, where the process of approving Solana ETFs remains in its early stages with uncertain prospects.
Brazil’s Solana ETF Receives Preliminary Approval
According to Exame, a local news outlet, the newly approved Solana ETF is currently in the preparatory stage and still needs the green light from the Brazilian stock exchange, B3, before its official launch.
Created by QR Asset and managed by Vortx, the ETF does not yet have a confirmed date for its approval and entry into the Brazilian market.
Commenting on the approval, Theodoro Fleury, QR Asset’s Manager and Investment Director 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 Bra
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