Breaking: Brazil regulator approves first @solana Spot ETF - partnering with the @CMEGroup - wil be live within 90 days.
The Brazilian Securities and Exchange Commission (CVM) has approved the launch of the first Solana spot ETF in Brazil and worldwide.
The Solana ETF approved by the CVM will have as its reference price the CME CF Solana Dollar Reference Rate, which is a reference rate designed to provide a reliable and transparent measure of the value of #Solana (SOL) in US dollars (USD).
Developed by the partnership between the Chicago Mercantile Exchange (CME) and Crypto Facilities (CF), this index aims to offer a standardized and accurate quote for the price of Solana, based on transaction data carried out on the main cryptocurrency exchanges.
According to information shared with @Cointelegraph , the fund is already in the pre-operational phase.
During this phase, the ETF begins raising initial funds from investors and formalizes contracts with service providers, such as administrators, managers and custodians. In addition, the assets necessary to compose the fund's portfolio are acquired.
Although there is no specific date yet for the launch of the fund, it should be launched within a maximum of 90 days.
@solanabrasil@solana #Solana
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