The Brazilian Market Supervisory Authority, CVM has approved an ETF based on Solana. It is the first product of its kind in Brazil and one of the first Solana-based exchange-traded products (ETPs) globally. The Solana-based ETF is in a pre-operational phase and is therefore subject to approval by Brazil’s stock exchange, B3. Exame, a local news organization, said the product would track the CME CF Solana Dollar Reference Rate, created by CF Benchmarks. Brazilian asset manager QR Asset will offer the ETF, while Vortx, a local fintech focused on capital markets, will act as manager, the report said. SOL is trading at just under $154, up 1.1% over the past 24 hours, at the time of writing.
