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Episode #116: How QR Asset Launched the World's First Solana ETF
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Olá pessoal!
For today’s episode I had the opportunity to chat with Theodoro Fleury, Chief Investment Officer at QR Asset, to discuss their groundbreaking Solana spot ETF—the world's first of its kind.
The Solana product launched on August 29, 2024, and raised R$15 million (US$3 million) on Day 1. The fund’s SOL holdings have grown 25% since launch day.
Our conversation offers insights into Brazil’s capital markets, the evolving landscape of crypto investment vehicles, and Brazil's role as a leader when it comes to creating a favorable environment for these types of products.
Key Takeaways:
* QR Asset launched the first bitcoin ETF outside of Canada in 2021 on Brazil’s B3 Exchange, followed by Ethereum and DeFi ETFs
* Crypto ETFs have become among the most traded on Brazil's B3 exchange
* Brazil's CVM (Securities and Exchange Commission) has long shown a progressive stance towards crypto products and approved the Solana ETF in early August 2024.
* Brazil's move to approve a Solana ETF likely foreshadows similar developments in other markets such as the US.
From launching their first crypto funds in early 2020 to becoming a major player in Brazil's ETF market, QR Asset has been one of the earliest movers globally operating these types of crypto products.
The introduction of the Solana ETF marks a significant milestone. Fleury explains the rationale behind choosing Solana, citing its strong developer community, growing TVL, and position as the largest non-stablecoin asset after bitcoin and ethereum.
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