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Solana Makes History with Groundbreaking Spot ETF Approval

08.08.2024 1:19 1 min. read Alexander Stefanov
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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.

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While the exact launch date is not set, the ETF is expected to debut within the next 90 days.

Alexander Stefanov
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With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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