The Hashdex Solana ETF (SOLH11) is a Brazilian exchange-traded fund designed to track the performance of the Nasdaq Solana Reference Price Index (NQSOL). Managed by Hashdex Gestora de Recursos Ltda., the ETF trades on the B3 and provides Brazilian investors with regulated exposure to Solana (SOL), one of the leading blockchain networks supporting decentralized applications and digital assets.

Classified as a cryptocurrency ETF, SOLH11 follows a passive management strategy. The fund seeks to provide returns that closely correspond to the price performance of Solana by replicating its benchmark index, offering investors exposure to the cryptocurrency without the need to manage private keys or digital wallets.

The Nasdaq Solana Reference Price Index is designed to measure the market price of Solana using pricing data from selected cryptocurrency exchanges. The ETF's assets consist primarily of direct exposure to SOL, with periodic adjustments made to maintain alignment with the benchmark methodology.

Composition / Exposure Profile

SOLH11 provides exposure primarily to:

• Solana (SOL).

• The Solana blockchain ecosystem.

• Smart contract infrastructure.

• Decentralized applications (dApps).

• The global digital asset market.

The ETF is designed to reflect the performance of Solana, a high-performance blockchain network known for supporting decentralized finance (DeFi), non-fungible tokens (NFTs), blockchain gaming, tokenization, and Web3 applications. Unlike diversified cryptocurrency ETFs, SOLH11 offers concentrated exposure to a single digital asset.

As a result, the fund's performance is closely tied to Solana's market price and is influenced by factors such as cryptocurrency adoption, blockchain network activity, technological development, regulatory changes, investor sentiment, and broader conditions across the digital asset market.

Structure and Costs

SOLH11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption are carried out by authorized participants, helping to keep the ETF's market price aligned with its net asset value (NAV).

The fund charges a maximum total expense ratio of approximately 1.10% per year, in addition to operational expenses associated with maintaining the ETF's investment structure.

SOLH11 does not charge a performance fee and does not make recurring income distributions. Any proceeds generated by the fund are automatically reflected in its net asset value. The ETF has an indefinite term.

History and Evolution of the ETF

The Hashdex Solana ETF was launched in 2024 to provide Brazilian investors with regulated, exchange-traded access to Solana through the Brazilian stock exchange.

Since its inception, SOLH11 has become part of the expanding range of cryptocurrency ETFs listed on the B3, reflecting growing investor interest in blockchain networks beyond Bitcoin and Ethereum. 

Over time, the fund's performance has closely tracked the global price of Solana, influenced by adoption of the blockchain ecosystem, growth in decentralized applications, developments across the cryptocurrency industry, regulatory changes, and broader macroeconomic conditions affecting digital assets.

Additional Information

Hashdex Solana ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $150.00 million.

Over the past 12 months, Hashdex Solana ETF recorded a return of -60.36%, with its price trading between $9.11 and $35.25 during the same period.

The ETF is traded under the ticker SOLH11.