Exciting News: Second Crypto ETF on Solana Approved in Brazil
Great news for crypto enthusiasts in Brazil! The Commissione per i titoli e gli scambi (CVM) has given the green light to a new Exchange-Traded Fund based on Solana (SOL). This marks the approval of the second ETF on Solana in the country. The fund will be offered by Hashdex, a prominent asset manager, in collaboration with the local investment bank BTG Pactual.
Breaking Down the Second Solana ETF Approval in Brazil
If you’re curious about the specifics of this exciting development, here are some key details:
– The new ETF on Solana is currently in the pre-operational phase
– Expected to be offered by Hashdex, a renowned asset manager in Brazil
– Developed in partnership with the local investment bank BTG Pactual
– Hashdex has an established presence in the ETF segment on the Brazilian stock exchange B3
– The asset manager manages over $962 million in assets
– Hashdex has previously launched products like the Nasdaq Crypto Index and ETFs based on Bitcoin and Ethereum
The Second Solana ETF Follows Quickly on the Heels of the First
In a surprising turn of events, the approval of the second Solana ETF in Brazil comes only three weeks after the launch of the first one. Back in August, the CVM authorized the first ETF on Solana, kickstarting this type of investment product in Brazil.
– The first Solana ETF was launched in Brazil on August 8
– Managed by QR Asset, with Vortx serving as the manager
– Rumors of potential spot Solana ETFs in the USA have intensified throughout 2024
– VanEck has already submitted an application for a Solana ETF, still pending review
The Surge in Crypto Purchases
The recent launch of crypto ETFs on Solana coincides with a significant uptick in crypto purchases among Brazilians. This surge in interest was noted earlier this year by the Brazilian economic newspaper Valor Economico.
– In 2023, Brazilian crypto purchases, including those on foreign exchanges, totaled $12.3 billion
– A 20% increase was observed in the first quarter of 2024, with crypto purchases reaching $14.8 billion in March
Hot Take: Brazil Embraces Crypto with Second Solana ETF Approval
Exciting times ahead for the crypto community in Brazil as the approval of the second Solana ETF signals a growing interest in digital assets. Stay tuned for more developments in the world of crypto investments!
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