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International Business Times
International Business Times
Business
Marvie Basilan

Brazil Becomes World's First In Approving Spot Solana ETF, Pumping $SOL Above $163

Solana ETF Brazil VanEck Crypto SEC United States Bitcoin CME CoinGecko
As the US SEC mulls whether or not to approve VanEck's application for a spot Solana ETF, Brazil has approved its first $SOL ETF. (Credit: IBT)

KEY POINTS

  • Brazil's SEC is the first worldwide to have approved a spot Solana ETF
  • $SOL's price broke above $163 at one point Thursday after word spread about the milestone
  • The US SEC is yet to approve VanEck's application for a Solana ETF

Brazil is now the world's leader in spot Solana ($SOL) exchange-traded funds (ETFs) as it became the first country to give the green light to a $SOL ETF. The news pumped the cryptocurrency's price in the last 24 hours, giving hope to the community that other crypto ETFs will soon become a reality.

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