Guideline
Home” Regulation” Hashdex to introduce Solana ETF in Brazil
by
Vivian Nguyen
Aug. 20, 2024
The company partners with BTG Pactual for brand-new ETF, broadening Brazil’s crypto offerings.
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Hashdex, a recognized gamer in the crypto property management area, will release an exchange-traded fund (ETF) that offers financiers with direct exposure to Solana (SOL), as displayed in the database of Brazil’ s Securities and Exchange Commission (CVM), which has actually authorized the item.
The ETF, called the “ Hashdex Nasdaq Solana Index Fund,” is still in its pre-operational stage, the CVM database programs. That indicates the fund remains in the procedure of settling its setup before being totally functional and open up to financiers.
The ETF will be handled by Hashdex in partnership with BTG Pactual, a significant regional financial investment bank.
Hashdex, with possessions over $962 million, has actually been active in the crypto ETF market considering that its starting in 2018. In 2021, Hashdex introduced the world’ s initially crypto index ETF, the Nasdaq Crypto Index(NCI). The company is likewise behind Brazil’ s very first ETF based upon a crypto index.
In addition to items connected to the Nasdaq Crypto Index, Hashdex has actually broadened its offerings to consist of crypto possessions like Bitcoin and Ethereum. The company just recently declared a pioneering double Bitcoin and Ethereum ETF with the United States Securities and Exchange Commission (SEC).
The approval follows the approval of the nation’ s initially Solana ETF by QR Asset on August 8. While Brazil reveals growing interest in varied crypto financial investments, the United States is more reluctant regardless of current development with area Bitcoin and Ethereum ETFs.
In June, VanEck and 21Shares declared area Solana ETFs in the United States, intending to list on the Cboe BZX Exchange in spite of Solana’ s category as a security by the SEC.
Sources familiar with the scenario just recently informed The Block that the SEC had actually declined Cboe’ s 19b-4 filings for Solana ETFs of VanEck and 21Shares. That was likely the factor behind the elimination of these filings from the Cboe.
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