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.
READ MORE:
Analyst Identifies Key Triggers for Crypto market RecoveryWhile the exact launch date is not set, the ETF is expected to debut within the next 90 days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much is ETH really worth? Hashed provides 10 different valuation methods in one go
After taking a weighted average, the fair price of ETH exceeds $4,700.
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost
People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.
Balancer Rallies to Recover and Redistribute Stolen Funds After Major Cyber Attack
In Brief Balancer plans to redistribute $8 million to users after a massive cyber theft. The recovery involved crucial roles by white-hat researchers rewarded with 10% incentives. Unclaimed funds will undergo governance voting after 180 days.
Bitcoin Faces Renewed Selling Pressure as Whale Deposits Spike and Market Fear Deepens
Trending news
MoreCrypto prices
More
