Second Solana ETF Approved in Brazil

The product will be launched by Brazil-based asset manager Hashdex in partnership with local investment bank BTG Pactual.

Brazil’s Securities and Exchange Commission (CVM) has approved a second Solana (CRYPTO: SOL) exchange-traded fund (ETF), the agency disclosed in its central database.

The new Solana (SOL) ETF, which is in a pre-operational phase, will be offered by Hashdex — a Brazil-based asset manager with over $962 million in assets under management — in partnership with the local investment bank BTG Pactual, according to the CVM database.

Hashdex is an experienced player in the ETF segment on the B3 Brazilian stock exchange, having already launched products such as the Nasdaq Crypto Index as well as Bitcoin (CRYPTO: BTC)- and Ethereum (CRYPTO: ETH)-based ETFs.

On August 8, the CVM approved the country's first Solana ETF, which is offered by Brazil-based asset manager QR Asset.

See More: Best Cryptocurrency ETFs For Q4 2023

Solana Price Action: At last check Friday, Solana was trading 0.33% lower at $30.06.

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