Brazilian Securities and Exchange Commission approves Solana-based ETF, first of its kind in Brazil

The Brazilian Securities and Exchange Commission (CVM) has given its approval to a Solana-based exchange-traded fund (ETF), making it the first of its kind in Brazil and one of the first Solana-based exchange-traded products (ETPs) worldwide. The ETF is currently in a pre-operational stage and still requires approval from the Brazilian stock exchange, B3. The product will follow the CME CF Solana Dollar Reference Rate, which was created by CF Benchmarks with the support of the Chicago Mercantile Exchange (CME), according to local news organization Exame.