Second Solana ETF Has Been Approved by the Securities Commission
2024-08-21
Bittime - The Brazilian Securities and Exchange Commission (CVM) has approved a second Solana ETF, increasing Brazilian investors' access to the Solana ecosystem. Read in full!
Second Solana ETF Has Been Approved
The latest report from Shenzhen TechFlow shows that the Brazilian Securities and Exchange Commission (CVM) has approved Solana's second exchange-traded fund (ETF) in Brazil.
Brazilian asset management company Hashdex and local investment bank BTG Pactual will launch a new Solana ETF, which is currently in the preoperative stage.
Hashdex Manages Various ETF Products
With assets of over $962 million, Hashdex has been managing various ETF products on Brazil's B3 stock exchange for a long time, and is not a new player in the ETF industry.
Previously, the company has also launched well-known ETFs such as the Nasdaq Crypto Index as well as ETFs for Bitcoin and Ethereum.
Also Read: Solana Ecology Drift Launches BET Prediction Market
Solana ETF approval in Brazil
Last August 8 in Beijing, Solana's first ETF in Brazil, launched by another Brazilian asset management company, QR Asset, was approved by CVM.
The approval of this second ETF enhances Solana's position in the Brazilian market, which is increasingly interested in including crypto assets in their investment portfolios.
Launch of Solana ETF Capable of Attracting Investors
Brazilian investors are more likely to be able to invest in the Solana ecosystem with the launch of the Solana ETF. This would also indicate the growing interest of Brazilian institutional investors in crypto assets, as they see great potential in blockchain technology and digital assets such as Solana.
Conclusion
The increasing interest in crypto assets especially from institutional investors is demonstrated by the approval of the second Solana ETF by the Brazilian Securities and Exchange Commission (CVM).
The launch of this ETF by Hashdex and BTG Pactual will expand Brazilian investors' access to the Solana ecosystem, strengthen Solana's position in the global crypto market, and grow investor confidence in blockchain technology.
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