According to breaking news, the Brazilian Securities and Exchange Commission (CVM) has approved the world’s first Solana Spot ETF.

This new investment product, offered by QR Asset Management and distributed by Vortx, will be traded on the Brazilian Stock Exchange B3.

Currently, 21Shares Solana ETP (ASOL) is listed in Switzerland on the SIX Swiss Exchange; CoinShares Physical Solana; Only Solana ETPs are traded globally, as are ETC Group Physical Solana and ETC Group Physical Solana, both of which are listed on the German exchange Deutsche Börse Xetra.

The fund is currently in a pre-operational stage. During this phase, the ETF begins raising initial capital from investors and formalizes contracts with service providers such as administrators, administrators and custodians, while also acquiring the assets necessary to build the fund’s portfolio.

Although there is no specific launch date yet, the fund is expected to launch within 90 days. Hashdex pioneered the launch of crypto ETFs in Brazil with HASH11, while QR pioneered the launch of spot ETFs in the country by becoming the first manager to launch 100% Bitcoin and Ethereum ETFs.

*This is not investment advice.