Brazil to Launch Spot ETF for Solana appeared first on The CryptoCurrency Exchange

Brazil's Securities Commission (CVM) has approved the world's first solana spot ETF offering. Cointelegraph Brazil reported on the morning of the 8th. The ETF will be marketed by Vortex and traded on the Brazilian Stock Exchange B3. The product will have a reference price of "CME CF Solana Dollar Reference Rate F". Developed by a partnership between the Chicago Mercantile Exchange (CME) and Crypto Facilities (CF), the index aims to provide a standardized and accurate quotation of the Solana price based on trading data from major cryptocurrency exchanges.

There are currently three Solana ETPs trading globally: 21Shares Solana ETP on the Swiss SIX exchange, CoinShares Physical Solana on the German exchange Deutsche Börse Xetra, and ETC Group Physical Solana. In the U.S., VanEck and 21Shares filed for a Solana spot ETF listing (S-1 registration) in June, but it is unlikely to be approved before the end of the y