ETF market sees divergent trends in Canada and Brazil

Canadian investors are facing the prospect of ETF closures as Global X announced the termination of three Canada‑listed ETFs, with delisting slated for February 2026 and final liquidation to follow. The process includes a 60‑day notice period, a cutoff for new unit creation, delisting, and a pro‑rated cash distribution to remaining shareholders.

In contrast, Brazil's ETF industry is rapidly expanding. Assets under custody on the B3 doubled from R$61 billion to R$121 billion between December 2022 and May 2026, while the number of listed ETFs rose 57 % to 196. Investor participation grew from 536 thousand to 860 thousand, and trading volume reached R$194 billion. Market participants cite ETFs' low fees, transparency, and diversified exposure as key drivers, and regulatory changes may allow active‑managed ETFs by 2027.