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 alternate. 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 lift 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 traders’ portfolios because of its development potential. He careworn {that a} Solana ETF “supplies better safety for extra conservative traders” and is “necessary for institutional traders, who can not purchase the asset instantly.