While the United States continues to grapple with regulatory hurdles for Solana ETFs, Brazil is making significant strides. QR Asset Management has announced that its Solana ETF, QSOL11, will be publicly available starting on August 28. The ETF will be listed on the B3 stock exchange, offering shares at R$10 each.
The launch of QSOL11 marks a new milestone for QR Asset, which already boasts a portfolio of crypto-related products including QBTC11, QETH11, and QDFI11. This ETF provides Brazilian investors with a regulated avenue to diversify their portfolios and gain exposure to Solana, a popular blockchain platform.
The Brazilian Securities Commission (CVM) approved QSOL11 earlier this month. The fund is managed by Vortx and tracks the CCME CF Solana Dollar Reference Rate, ensuring accurate pricing for Solana. This ETF is a testament to Brazil’s position as a leader in the crypto market and its commitment to fostering a regulated environment for innovation.
Theodoro Fleury, CIO of QR Asset Management, expressed optimism about the launch: “Having proactive regulatory bodies is crucial for supporting innovations like QSOL11. Brazil’s open and supportive stance towards the crypto ecosystem is a major advantage for investors.”
QR Asset is not alone in pursuing Solana ETFs in Brazil. Hashdex, another prominent asset manager, has also received CVM approval for its Solana ETF, which is currently in the pre-operational phase. The ETF, backed by Hashdex and BTG Pactual, will join Hashdex’s existing lineup of crypto ETFs on B3.
However, the landscape for Solana ETFs in the United States remains challenging. Recent regulatory actions have cast doubt on the possibility of approval under the current administration. Bloomberg ETF analyst Eric Balchunas noted that the chances of approval are “near-zero” in the near future, unless there is a change in leadership.
As Brazil continues to embrace crypto-related products and offer regulated options for investors, the contrast with the United States’ regulatory uncertainty becomes increasingly apparent. While the US grapples with policy decisions, Brazil is actively fostering a thriving crypto ecosystem and providing investors with innovative investment opportunities.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
