Brazil’s ETF market has tripled with at least 22 digital asset ETFs now listed on the B3 exchange, making the country the second-largest market globally for such products after the United States. Brazilian asset manager Hashdex, the primary driver of this expansion, launched the world’s first Solana and XRP ETFs and is preparing a hybrid Bitcoin-and-gold ETF (GBTC11) scheduled for July 29, 2025. Brazil’s securities regulator CVM has taken a pragmatic approach that contrasts sharply with the US SEC’s years of deliberation. The iShares MSCI Brazil ETF reports net assets of approximately $9.05 billion and this financial infrastructure is reshaping how an entire continent accesses crypto.
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