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