The post Brazil Reveals Launch Date for First Solana ETF appeared on BitcoinEthereumNews.com.

While the prospect of a Solana ETF (SOL) in the US remains uncertain, Brazil is moving forward confidently.  QR Asset Management has announced that its Solana ETF will be available for public offering starting Wednesday, August 21. The ETF will be listed on Brazil’s B3 stock exchange on August 28, with shares priced at R$10 each. Brazil Reveals Launch Date for First Solana ETF The Brazilian Securities Commission (CVM) approved QSOL11 earlier this month. The fund, managed by Vortx, will track the CCME CF Solana Dollar Reference Rate, an index developed by CF Benchmarks and the Chicago Mercantile Exchange (CME) that provides reliable pricing for Solana. The launch marks a new step for QR Asset, which already offers crypto-related products like QBTC11 and QETH11 for Bitcoin and Ethereum exposure, along with QDFI11, which focuses on DeFi platforms. The company views this ETF as another regulated option for both institutional and retail investors in Brazil to diversify their portfolios. Read more: Read more: Solana ETF Explained: What It Is and How It Works According to Theodoro Fleury, CIO of QR Asset Management, the launch highlights Brazil’s position as a leader in the crypto market and reflects the importance of having regulators open to the evolution of the ecosystem. Fleury noted that having proactive regulatory bodies is key to supporting innovations like QSOL11, especially in a market with growing interest in crypto-assets. “As a market player, it is reassuring to have Brazilian regulators so attentive and open to the evolution of the crypto ecosystem in a regulated environment. The new ETF represents yet another regulated option for institutional and retail investors to diversify their portfolios and choose the ideal composition of their investments in the sector,’ Fleury stated. QR Asset is not the only firm moving forward with a Solana ETF in Brazil.…

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Filed under: News - @ August 21, 2024 1:19 pm