Brazil: the second crypto ETF on Solana is coming
- PHPzOriginal
- 2024-08-21 18:23:15808browse
La Commissione per i titoli e gli scambi (CVM) del Brasile ha annunciato di aver approvato un secondo ETF su Solana (SOL).
Brazil’s Securities and Exchange Commission (CVM) has approved a second exchange-traded fund (ETF) on Solana (SOL).
The new ETF will be offered by Hashdex in partnership with the local investment bank BTG Pactual, according to a report by Valor Investe on Monday.
The ETF is currently in the pre-operational phase. Hashdex is an asset manager that operates in the ETF segment on the Brazilian stock exchange B3.
The firm, which has over $962 million in assets under management, has launched products such as the Nasdaq Crypto Index and ETFs on Bitcoin (BTC) and Ethereum (ETH).
This approval comes three weeks after the first crypto ETF on Solana was launched in Brazil.
On August 8, the CVM approved the first ETF on Solana, which was offered by the Brazilian asset manager QR Asset and managed by Vortx, a local fintech focused on capital markets.
In the United States, several applications for spot crypto ETFs were submitted in 2024.
After the approval of spot Bitcoin ETFs in January and spot Ethereum ETFs in July, rumors about a future launch of spot Solana ETFs and other crypto have been circulating.
In June 2024, VanEck filed an application for a Solana ETF, which is still under review by the U.S. Securities and Exchange Commission (SEC).
The launch of crypto ETFs this August 2024 also coincides with an increase in crypto purchases by Brazilians.
In May, the Brazilian economic newspaper Valor Economico reported that according to the official report of the Banco Central do Brasil (BCB), in 2023 crypto purchases by Brazilians on foreign exchanges reached a total value of $12.3 billion.
This figure increased by over 20% during the first quarter of 2024, reaching $14.8 billion in crypto purchases in March, as reported by the BCB.
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