Brazil’s markets regulator, CVM, approved a Solana-based ETF. It is the first product of its kind in Brazil and among the first Solana-based exchange-traded products (ETPs) globally. The Solana-based ETF is in a pre-operational stage, so has yet to be approved by the Brazilian stock exchange, B3. Exame, a local news organization, said the product would follow the CME CF Solana Dollar Reference Rate, created by CF Benchmarks. Brazilian asset manager QR Asset will offer the ETF, while Vortx, a local fintech focused on capital markets, will serve as its manager, the report stated. SOL trades at just under $154, 1.1% higher in the last 24 hours, at the time of writing.