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Backpack Securities launches tokenized Brazil ETF on Solana as underlying shares surge

Backpack Securities has issued a tokenized version of the iShares MSCI Brazil ETF on Solana via Sunrise, offering 1:1 redemption for underlying shares as Brazilian equities rallied on first-round presidential election results.

Hourly candlestick chart showing the iShares MSCI Brazil ETF (EWZ) surging upward to around $43.30.
Image: @Crypto_Briefing

Backpack Securities has issued EWZ, a tokenized version of the iShares MSCI Brazil ETF, live on Solana through Sunrise. According to Backpack Onchain, the token is redeemable 1:1 for shares of the underlying ETF, which tracks an index of Brazilian equities, and can be transferred to traditional brokerages. Crypto media outlet DEGEN NEWS also reported that trading pairs for EWZ are now supported on LaunchOnSF and Pump.fun.[1][2][4]

The token launch arrived amid a sharp rally across Brazilian markets. Crypto Briefing reported that EWZ jumped roughly 13% following a surprise first-round presidential vote in Brazil, in which Flávio Bolsonaro took 47% of the vote against Lula's 45%. AMEX market charts shared by the outlet showed the ETF jumping past $43 as local markets moved sharply higher.[3][4]

Key facts

  • Backpack Securities issued EWZ, a tokenized version of the iShares MSCI Brazil ETF, live on Solana via Sunrise.
  • Tokenized EWZ is redeemable 1:1 for shares of the iShares MSCI Brazil ETF and transferable to traditional brokerages.
  • The underlying iShares MSCI Brazil ETF tracks an index composed of Brazilian equities.
  • EWZ trading pairs are supported on LaunchOnSF and Pump.fun.
  • EWZ surged approximately 13% after Flávio Bolsonaro led Brazil's first-round presidential election with 47% against Lula's 45%.
  • Crypto Briefing reported that the surprise presidential election outcome drove Brazilian local markets sharply higher.

Sources · 4 sources

  1. SO

    SolanaFloor@SolanaFloorPost on X ·

    🇧🇷NEW: $EWZ, a tokenized version of the iShares MSCI Brazil ETF that gives investors exposure to Brazilian stocks, has gone live on @Solana via @Sunrise, with @Backpack as the securities issuer. https://t.co/PREFe4Fafz

    Open source
  2. DN

    DEGEN NEWS@DegenerateNewsPost on X ·

    NEW: @Backpack SECURITIES-ISSUED $EWZ, THE TOKENIZED ISHARES MSCI BRAZIL ETF, GOES LIVE ON @solana VIA @sunrise @LaunchOnSF AND @Pumpfun NOW SUPPORT $EWZ PAIRS https://t.co/E774zkJifO

    Open source
  3. CB

    Crypto BriefingArticle ·

    Backpack launches tokenized Brazil ETF amid post-election market rally Backpack launched tokenized EWZ on Solana as the Brazil ETF surged following a surprise presidential vote that sent local markets sharply higher. The post Backpack launches tokenized Brazil ETF amid post-election market rally appeared first on Crypto Briefing .

    Open source
  4. CB

    Crypto Briefing@Crypto_BriefingPost on X ·

    🇧🇷 NEW: Backpack Securities launches tokenized $EWZ on Solana through Sunrise, redeemable 1:1 for shares of the iShares MSCI Brazil ETF. The launch comes as $EWZ surges about 13% after Flávio Bolsonaro led Brazil’s first-round presidential vote with 47% versus Lula’s 45%. https://t.co/jfp30NAMQT

    Open source