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CDS Crypto News Brazil’s CVM Approves Second Solana ETF, Expanding Crypto Investment Options

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Brazil’s CVM Approves Second Solana ETF, Expanding Crypto Investment Options

Zeynep Öztürk21/08/20241 Mins read50

Brazil’s CVM Approves Second Solana ETF, Expanding Crypto Investment Options

The Brazilian Securities and Exchange Commission (CVM) has given the green light for a second Solana exchange-traded fund (ETF), as confirmed by the agency’s central database.

The newly approved Solana (SOL) ETF, which is currently in its pre-operational phase, will be managed by Hashdex, a Brazil-based asset manager with over $962 million in assets under management. This new product is being launched in collaboration with BTG Pactual, a prominent local investment bank.

Hashdex is no stranger to the ETF market on the B3 Brazilian stock exchange. The firm has previously introduced several other ETFs, including those based on the Nasdaq Crypto Index, Bitcoin, and Ethereum.

This approval follows the CVM’s earlier sanctioning on August 8 of the country’s first Solana ETF, managed by QR Asset, another Brazil-based asset manager.