Brazil Approves Second Solana ETF as Hashdex Expands Crypto Offerings Following CVM Approval

• Brazil’s CVM approves its second Solana ETF, advancing the country’s leadership in regulated crypto investments.
• Hashdex partners with BTG Pactual to launch a new Solana ETF, expanding access to digital assets on Brazil’s B3 exchange.
• Global interest in Solana ETFs grows as Brazil leads the way, with major U.S. firms also seeking approvals for similar products.

The Brazilian Securities and Exchange Commission (CVM) has approved a second Solana-based exchange-traded fund (ETF). This ETF will be managed by Hashdex, a prominent asset manager in Brazil, in partnership with BTG Pactual, a leading local investment bank. The ETF is currently in a pre-operational phase, following the CVM’s green light on August 8 for the country’s first Solana ETF, which was managed by QR Asset.

Expansion of Solana ETFs in Brazil

Hashdex has a solid track record in managing ETFs, having previously launched products on Brazil’s B3 stock exchange. Their offerings include the Nasdaq Crypto Index, alongside Bitcoin and Ethereum ETFs. 

With over $962 million in assets under management, Hashdex continues to strengthen Brazil’s position in regulated cryptocurrency investments. The approval of the second Solana ETF builds on the momentum created by the initial Solana ETF offered by QR Asset, which similarly focused on expanding access to digital assets for local investors.

The Solana ETF is designed to similar the CME CF Solana Dollar Reference Rate, providing investors with a clear USD value for Solana. While this new product awaits final approval from Brazil’s main stock exchange, B3, its pre-operational phase marks another important step in Brazil’s proactive regulatory stance toward crypto assets.

Global Context and Future Prospects

Beyond Brazil, the global financial community has shown increasing interest in Solana ETFs. In the United States, major firms like VanEck and 21Shares filed for Solana ETFs with the U.S. Securities and Exchange Commission (SEC) in June. In July, the Chicago Board Options Exchange (CBOE) joined the effort by submitting a rule change proposal to the SEC, which is now open to public comments.

Brazil’s push to lead in regulated crypto investment reflects broader trends in global markets, notably as demand for cryptocurrency products grows. By approving multiple Solana ETFs, the country positions itself as a frontrunner in this evolving financial landscape.

Hashdex and QR Asset’s efforts in launching Solana ETFs demonstrate Brazil’s commitment to enhancing a regulated and diversified investment environment. These ETFs not only offer investors new opportunities in digital assets but also signal Brazil’s readiness to engage with the crypto market.