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World first: Brazil adopts Solana ETF

As the first body in the world, the Brazilian Securities and Exchange Authority has approved a Solana (SOL) ETF.

By Luc Vesters
• 1 min read
World first: Brazil adopts Solana ETF

As the first body in the world, the Brazilian Securities and Exchange Authority has approved a Solana (SOL) ETF. The ETF is issued by Brazilian asset manager QR Assets and managed by fintech company Vortx.

Once listed on the local stock exchange B3, the ETF will be one of the first Solana-based investment opportunities in the traditional financial sector. When exactly the listed fund will be available for trading on the Brazilian market is not yet known.

Otherwise, there is only the 21Shares Solana Staking ETP, which has been listed on the Swiss exchange SIX since 2021. With a market capitalization of $72 billion, SOL is the world's fifth-largest cryptocurrency. On a daily basis, SOL is up 1.9 percent. Since 2021, Bitcoin and Ether ETFs in Brazil already exist.

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