Brazil’s securities regulator, the CVM, has become the first in the world to approve the launch of a solana spot ETF for national markets. The ETF, offered by QR and managed by Vortx, is currently in its pre-trading stages. This approval highlights the pioneering and open approach of Brazilian regulators towards cryptocurrency products. The solana spot ETF will use the CME CF Solana Dollar Reference Rate as its price reference, providing an accurate quote for the price of solana based on different centralized exchanges. While a formal launch date has not been announced, it is expected to be listed within the next 90 days. In contrast to Brazilian regulators, their U.S. counterparts are more cautious about approving similar products. However, Vaneck and 21shares are currently seeking approval to launch solana spot ETFs in the U.S. To stay updated on the latest developments in crypto and the Latin American economy, sign up for our Latam Insights newsletter. Share your thoughts on the approval of the first solana spot ETF by Brazilian regulators in the comments section below. Bitcoin.com News is also hiring a News Writer to cover cryptocurrency, blockchain, and the digital currency ecosystem. If you’re interested in joining our innovative global team, apply here.
