Backpack launches tokenized Brazil ETF amid post-election market rally

Backpack Securities has launched a tokenized version of the iShares MSCI Brazil ETF on Solana through Sunrise, bringing one of the main vehicles for trading Brazilian equities onto crypto rails as investors react sharply to Brazil’s first-round election result. Issued by Backpack Securities, $EWZ is now listed on @Solana with @Sunrise. ▸ Redeemable 1:1 for iShares MSCI Brazil ETF shares▸ Transferable to traditional brokerages The iShares MSCI Brazil ETF seeks to track an index composed of Brazilian equities. pic.twitter.com/PV5ZPPAB6R — Backpack Onchain (@BackpackOnchain) October 5, 2026 The tokenized EWZ is redeemable 1:1 for traditional shares of the ETF through Backpack Securities. The launch comes as EWZ jumped roughly 13% Monday following a surprise result in Brazil’s first-round presidential vote. Sen. Flávio Bolsonaro finished first with about 47% of the vote, ahead of President Luiz Inácio Lula da Silva at roughly 45%, setting up an Oct. 25 runoff. Brazilian markets rallied sharply on the result, with the Bovespa, Brazil’s benchmark stock index, gaining more than 8% and the real strengthening more than 4% as investors increased bets on a more market-friendly fiscal agenda. ...