On Thursday, the primary Solana spot exchange-traded fund (ETF) product raised over $2.75 million throughout its public providing on B3, the Brazilian inventory change. The product, beforehand authorised for buying and selling by the Brazilian securities regulator (CVM), is obtainable by QR Asset, which additionally has a bitcoin-based ETF product. The providing managed to boost solely 15% of what QR Asset raised with its bitcoin equal. Nonetheless, Theodoro Fleury, funding supervisor and director at QR Asset, acknowledged that Solana has a spot in buyers’ portfolios because of its progress potential. He pressured {that a} Solana ETF “offers higher safety for extra conservative buyers” and is “necessary for institutional buyers, who can not purchase the asset straight.
