Solana ETF traded on B3 raises more than R$15 million

Brazil’s cryptocurrency market has received a significant boost with the debut of the first exchange-traded fund (ETF) focused on the Solana (SOL) cryptocurrency on B3, the Brazilian stock exchange. QSOL11, managed by QR Asset, raised R$15.5 million during its public offering, as reported by Valor Econômico.

With a market cap of over $64 billion, Solana is now the fifth-largest cryptocurrency on the market, priced at $138.67, according to data from CoinGecko.

Managed by Vórtx, QSOL11 tracks the CME CF Solana Dollar Reference Rate index. The ETF began trading with the reference value of the share fixed at R$10. The reservation period began on August 21st and, although the fundraising represented only 15% of what QR Asset raised with QBTC11, focused on Bitcoin, the launch of the Solana ETF reinforces investors’ confidence in the digital currency.

Brazil Solana ETF

Solana is the native cryptocurrency of the blockchain of the same name, the second largest in the world focused on the development of smart contracts and decentralized applications (dApps).

According to Theodoro Fleury, manager and investment director at QR Asset, Solana stands out for its fast and scalable network, characteristics that make it a frequent choice among cryptocurrency investors.

“Solana has enormous growth potential, especially in the development of financial applications, which makes it a solid option in investors’ portfolios,” commented Fleury.

Furthermore, the executive highlighted that ETFs offer an alternative for those who wish to invest in crypto assets, but prefer to avoid the complexities of custody of private keys and creation of digital wallets.

“An ETF like QSOL11 goes through a rigorous approval process by CVM and B3. This provides greater security, especially for more conservative and institutional investors who do not have the possibility of purchasing the assets directly,” he explained.

Furthermore, Diego Dias, head of Latin America at the Solana Foundation, highlighted that the foundation has focused on promoting technological innovation and supporting startups that seek to adapt to a constantly evolving market.

“Our focus on product and community has generated job opportunities and created new business models, driving the growth of the ecosystem as a whole,” says Dias.

With the launch of QSOL11, QR Asset expands its ETF portfolio, consolidating itself as one of the main managers offering innovative financial products in the cryptoasset market.

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