QR And Vortx Will Manage Inaugural Brazilian Solana ETF
The Brazilian Securities and Exchange Commission has given the green light for the first spot Solana ETF, a milestone managed by QR and Vortx, with a launch anticipated within the next 90 days.
Overseeing The ETF
QR, a firm experienced in managing Bitcoin and Ethereum ETFs, will play a key role in overseeing the ETF and all corresponding operations, in partnership with Vortx. The collaboration is crucial as it will enable both parties to mutually benefit while simultaneously ensuring that the ETF functions smoothly.
Although the ETF is in its nascent stages and still requires further regulatory approval by B3, the financial exchange in Brazil, the expectation is for it to become available to investors within the upcoming three months.
Reliability And Transparency
Currently, investors can trade Solana ETPs on the SIX Swiss Exchange, where the 21Shares Solana ETP is listed under the ticker ASO, and on Deutsche Börse Xetra in Germany, where the CoinShares Physical Solana and the ETC Group Physical Solana are available.
At any rate, the newly approved Solana ETF will utilize the CME CF Solana Dollar Reference Rate F as its benchmark price, ensuring a reliable and transparent representation of Solana and its value in USD.
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