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The Brazilian Securities and Exchange Commission (CVM) approved the second Solana Spot ETF yesterday, two weeks after approving the first one. In contrast, ETF issuers in the United States seem to be facing obstacles in this regard, with well-known analysts admitting that the chances of approval are slim.
Brazil approves two Solana Spot ETFs in a row
According to data from the CVM central database, the institution has once again approved the second Solana spot ETF in less than two weeks, and is currently waiting for further approval from the Brazilian stock exchange.
It is reported that the product will be launched in collaboration with Hashdex, a well-established asset management company in Brazil, and BTG Pactual, a local investment bank; the former manages assets of over $962 million and is also the issuer of the Brazilian encryption index ETF with a size of $456 million (code: Hash11).
The Solana spot ETF previously approved by CVM is managed by another asset management company QR Asset and fund management company Vortxissuance.
The launch of two consecutive encryption ETFs seems to symbolize the growing interest of the Brazilian people in investment vehicles based on Crypto Assets.