BlackRock raises its stake in B3 to 10.075%

BlackRock notified B3 that it has acquired additional shares in the Brazilian exchange operator. Following the transaction, the asset manager holds an aggregate of 504,009,710 common shares and 1,479,668 American Depositary Receipts representing 4,439,004 common shares. In total, the position reaches 508,448,714 shares, representing approximately 10.075% of B3's total common stock.

The manager also holds 10,532,255 cash-settled derivative financial instruments referenced to B3 common shares. BlackRock stated that the purpose of the equity stakes is strictly for investment, without any objective of altering corporate control or the administrative structure of the company.

BlackRock confirmed in the filing that it has not entered into any agreements or contracts regulating the exercise of voting rights or the purchase and sale of securities issued by B3.

The share purchase comes as potential competitors prepare to challenge B3's position as the only operating exchange in Brazil. Three initiatives, A5X, Base Exchange, and CSD BR, are advancing operational and regulatory plans. A5X recently completed a funding round with investors including Morgan Stanley, Goldman Sachs, XP, and Kaszek, aiming to start operations in the second quarter of 2027 by focusing initially on the derivatives market.