Brazil’s Securities and Exchange Commission Approves Solana-Based ETF

The Brazilian Securities and Exchange Commission (CVM) has approved a Solana-based exchange-traded fund (ETF), the agency disclosed in its central database on Wednesday. It is the first product of its kind in Brazil and among the first Solana-based exchange-traded products (ETPs) globally. According to CVM’s database, the Solana-based ETF is in a pre-operational stage, so it has yet to be approved by the Brazilian stock exchange, B3. Exame, a local news organization, added that the product would follow the CME CF Solana Dollar Reference Rate, created by CF Benchmarks with the support of the Chicago Mercantile Exchange (CME).

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