Spot SOL ETFs have been approved in Brazil: will SOL price to the moon?

[KryptoBull]

If anyone wants to check it out, these are today's data from the SOL ETF in Brazil, the ticker is QSOL11


Source

The prices are in brazilian reais R$

Thanks for the update. I tried looking for the exact amount of money that's flowed into QSOL11 but couldn't find specific data. Price and trading volume alone can't give us that figure, so it's hard to gauge QSOL11's success.

Unfortunately, there doesn't seem to be as much investor interest in QSOL11 compared to US spot BTC and ETH ETFs. It looks like SOL still needs a US spot ETF to attract traditional investors and have a more successful uptrend.

[rdluffy]

Thanks for the update. I tried looking for the exact amount of money that's flowed into QSOL11 but couldn't find specific data. Price and trading volume alone can't give us that figure, so it's hard to gauge QSOL11's success.

Unfortunately, there doesn't seem to be as much investor interest in QSOL11 compared to US spot BTC and ETH ETFs. It looks like SOL still needs a US spot ETF to attract traditional investors and have a more successful uptrend.

In my opinion, Brazilians who want exposure to Solana buy the coin directly and not through ETFs, which would be more interesting for institutional investors.
And in Brazil it's very different from the US, the volume here is much smaller

What information would you like to know? I can look it up for you here

[KryptoBull]

In my opinion, Brazilians who want exposure to Solana buy the coin directly and not through ETFs, which would be more interesting for institutional investors.
And in Brazil it's very different from the US, the volume here is much smaller

What information would you like to know? I can look it up for you here

I'm not entirely clear on Brazil's investment regulations. If large funds can easily purchase SOL directly and are comfortable working with blockchains, they might not need to access a spot SOL ETF. This contrasts with US regulations where pension funds are limited in the assets they can hold and don't want to self-custody private keys, so a spot ETF is the only way for them to invest in crypto.

If possible, could you share the total value of SOL held in QSOL11? This is the most crucial figure to gauge investor interest in this product while trading volume doesn't accurately reflect this.

[rdluffy]

I'm not entirely clear on Brazil's investment regulations. If large funds can easily purchase SOL directly and are comfortable working with blockchains, they might not need to access a spot SOL ETF. This contrasts with US regulations where pension funds are limited in the assets they can hold and don't want to self-custody private keys, so a spot ETF is the only way for them to invest in crypto.

If possible, could you share the total value of SOL held in QSOL11? This is the most crucial figure to gauge investor interest in this product while trading volume doesn't accurately reflect this.

To be honest, I'm also unclear about the institutional investment rules for cryptos in Brazil
When it's a company, it's a bit different then for retail

I managed to find the total investments in the ETF, take a look:


Source: https://qrasset.com.br/qsol11/

33,32 millions of brazilian reais is something like 5,77 million USD

What do you think? Expected more?

[KryptoBull]

To be honest, I'm also unclear about the institutional investment rules for cryptos in Brazil
When it's a company, it's a bit different then for retail

I managed to find the total investments in the ETF, take a look:


Source: https://qrasset.com.br/qsol11/

33,32 millions of brazilian reais is something like 5,77 million USD

What do you think? Expected more?

Thank you so much for this information +. We now have concrete data to assess the success level of the spot SOL ETF.

5.8M USD over 3 months is not a large amount, which is equivalent to buying 30K SOL and no longer creating selling pressure on the market. This amount is actually quite small but is also a good sign that this product has potential customers to target. I hope that if the spot SOL ETF is approved in the US, the inflow of funds will be larger, for example, 100 times compared to this product in Brazil.

[Madmax789]

The recent approval of spot Solana (SOL) ETFs in Brazil marks an exciting development, as it allows investors direct exposure to SOL through a regulated investment vehicle. Spot ETFs track the real-time price of SOL, meaning that investors can buy and sell shares that represent SOL without directly holding the cryptocurrency itself.The approval of spot SOL ETFs in Brazil is a promising development for Solana, likely contributing to increased legitimacy and potential price growth. However, while it could support a gradual rise in SOL’s price, other broader factors will still play a major role in determining SOL’s long-term price trajectory. For significant upward movement, more extensive global adoption and positive macroeconomic conditions would be needed.

[rdluffy]

...

Thank you so much for this information +. We now have concrete data to assess the success level of the spot SOL ETF.

5.8M USD over 3 months is not a large amount, which is equivalent to buying 30K SOL and no longer creating selling pressure on the market. This amount is actually quite small but is also a good sign that this product has potential customers to target. I hope that if the spot SOL ETF is approved in the US, the inflow of funds will be larger, for example, 100 times compared to this product in Brazil.

You're welcome 

It's a good amount of money, but considering the whole market, it's not a huge mark, maybe with this spikes in price, could bring more money into
I'm sure if they launch in US, 100x is a good estimate to start, and US being the main market, atracts more attention and more speculation, possible making SOL rise even more

[KryptoBull]

You're welcome 

It's a good amount of money, but considering the whole market, it's not a huge mark, maybe with this spikes in price, could bring more money into
I'm sure if they launch in US, 100x is a good estimate to start, and US being the main market, atracts more attention and more speculation, possible making SOL rise even more

It's tough to say if the amount of SOL in the Brazilian spot SOL ETF has created enough buying pressure to boost SOL's price globally. Maybe 30K SOL isn't enough to soak up all the sell-offs on OTC markets. But let's look at the positive psychological impact. It could boost investor expectations for a US spot SOL ETF in the future, maybe even this season!

Brazil's economy isn't huge, so we weren't expecting too much from QSOL11 to begin with. Things will be different once we have a US spot SOL ETF launched by top funds. If the spot ETH ETF is really successful, I hope the spot SOL ETF can attract 50% of the same inflow.

[vegasus]

Even equipped with the victory of Trump which made the price of Bitcoin soar very quickly, then it was also followed by altcoins, especially top coins. It is not surprising that the price of SOL also soared very quickly. Even now it is at a rate of $ 210. Indeed, it has not reached the previous ATH, but if we look at the price, it has grown very rapidly. Not only that, it turns out that the market cap of Solana has also flown past BNB, now Solana is in 4th position in the coin market cap. This is surprising, but it makes sense. Because Solana is indeed a project that good with very significant and ongoing development

[KryptoBull]

Even equipped with the victory of Trump which made the price of Bitcoin soar very quickly, then it was also followed by altcoins, especially top coins. It is not surprising that the price of SOL also soared very quickly. Even now it is at a rate of $ 210. Indeed, it has not reached the previous ATH, but if we look at the price, it has grown very rapidly. Not only that, it turns out that the market cap of Solana has also flown past BNB, now Solana is in 4th position in the coin market cap. This is surprising, but it makes sense. Because Solana is indeed a project that good with very significant and ongoing development

Many projects aspire to achieve the same success as Sol, with its vibrant ecosystem, community attention, and the meteoric rise of its native token SOL from 10 USD to 200 USD. However, most projects in this market cannot replicate this feat and remain at their bottom, or even continue to make new lows as investors sell weak altcoins to focus on investing in BTC.

SOL has grown strongly along with the overall market trend, not necessarily due to the positive impact of the spot SOL ETF in Brazil. Nevertheless, I will still wait for the launch of the spot SOL ETF in the US next year for SOL to have the momentum to increase in price and directly threaten Ether's position.

[rdluffy]

... I will still wait for the launch of the spot SOL ETF in the US next year for SOL to have the momentum to increase in price and directly threaten Ether's position.

As far as I know, VanEck is trying to launch the first Solana ETF in US
If it's approved, it could help Solana's price a little, and depending on the moment, it could even be more eye-catching than the ETH ETFs that weren't as good as the BTC one

SOL's momentum is very good, which makes me wonder what price level it could be at today if it weren't for FTX

[vegasus]

.......the market cap of Solana has also flown past BNB, now Solana is in 4th position in the coin market cap. This is surprising, but it makes sense. Because Solana is indeed a project that good with very significant and ongoing development

Many projects aspire to achieve the same success as Sol, with its vibrant ecosystem, community attention, and the meteoric rise of its native token SOL from 10 USD to 200 USD. However, most projects in this market cannot replicate this feat and remain at their bottom, or even continue to make new lows as investors sell weak altcoins to focus on investing in BTC.

Usually new projects only focus on promoting names involving projects like Solana, and they often make statements like "the next Solana" and the like that make it seem like they will be like Solana and invite newcomers to follow them.

but we will always know what the results are like, yes, at most it's just a short hype and in the end like fees, rugpull or it ends up being shitcoin. While Solana is different, Solana's Web3 infrastructure continues to grow and produces several products and features that are integrated with well-known applications. and there are still many more advances in Solana, that's why they can move quickly and even take over BNB's position.

[KryptoBull]

As far as I know, VanEck is trying to launch the first Solana ETF in US
If it's approved, it could help Solana's price a little, and depending on the moment, it could even be more eye-catching than the ETH ETFs that weren't as good as the BTC one

SOL's momentum is very good, which makes me wonder what price level it could be at today if it weren't for FTX

Some smaller funds are trying to get a spot SOL ETF approved in the US. I hope their actions and SOL's success will change the minds of larger funds like BlackRock and Fidelity. The success of a spot ETH ETF is also crucial to confirm traditional investors' demand for investing in altcoins, after which other spot ETFs can be proposed and approved.

If Sol wasn't backed by FTX, it might not have become so popular and gained so many users in 2021. It could have failed like Eos despite having high speed and low fees. In general, everything that exists has a reason, they are reasonable so they can exist. Sol's existence at this point is a necessity in the development journey of crypto!