Backpack launches tokenized Brazil ETF on Solana amid post-election rally
- —EWZ token on Solana is redeemable 1:1 for iShares MSCI Brazil ETF shares
- —EWZ jumped roughly 13% Monday after Brazil's first-round election result
- —Brazil's Bovespa index gained more than 8%, the real strengthened over 4%
- —Tokenized equities market cap grew ninefold in a year to over $3.7 billion
Why it matters: Tokenized ETFs give crypto-native investors round-the-clock exposure to traditional markets, a segment growing ninefold year over year.
Source: Crypto Briefing