(Bloomberg) -- BlackRock is looking to capitalize on Argentina's improving fortunes, but it may be too late.

The world's largest asset manager unveiled the iShares MSCI Argentina Global Exposure ETF on Feb. 2, four months before MSCI will decide whether the country qualifies for inclusion in its emerging-market index. An upgrade from its current designation as a frontier market may prompt investors to pour $1 billion into Argentine stocks, says JPMorgan Chase.

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