Solana Makes History with Groundbreaking Spot ETF Approval
The Brazilian Securities and Exchange Commission (CVM) has greenlit the introduction of the first Solana spot ETF, marking a global first.
This Solana ETF will use the CME CF Solana Dollar Reference Rate to determine its price.
This rate, created through a collaboration between the Chicago Mercantile Exchange (CME) and Crypto Facilities (CF), offers a reliable measure of Solana’s value in US dollars based on data from major cryptocurrency exchanges.
The ETF is currently in its pre-launch phase, which involves gathering initial investments, finalizing contracts with key service providers like fund administrators and custodians, and acquiring the necessary assets for the fund.
READ MORE:
Analyst Identifies Key Triggers for Crypto market RecoveryWhile the exact launch date is not set, the ETF is expected to debut within the next 90 days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Caution is the ‘modus operandi’ for markets: K33
K33 analyst Vetle Lunde warned of potential volatility ahead
Bitcoin Faces Volatility After 8% Correction and Leverage Flush
Pump.fun Initiates $1 Billion Token Sale Amid Meme Coin Decline
Apecoin (APE) Approaches Key Resistance – Is a Bullish Breakout on Horizon?
Trending news
MoreCrypto prices
More
