🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Brazil exchange operator B3 to offer bitcoin futures in April

Published 29/03/2024, 10:48 am
© Reuters. FILE PHOTO: People walk in front of the Brazil's B3 Stock Exchange in Sao Paulo, Brazil July 6, 2023. REUTERS/Amanda Perobelli/File Photo
BTC/USD
-

SAO PAULO (Reuters) - Brazilian exchange operator B3 said on Thursday it received a green light from the country's securities regulator to offer bitcoin futures, with trading to start on April 17.

B3, which currently offers exchange-traded funds (ETFs) and receipts of ETFs related to cryptoassets, said the official date of the launch could still change.

The company said in a statement the bitcoin futures will be tied to the Nasdaq Bitcoin Reference Price, with each contract set at 10% of bitcoin's price in Brazilian reais.

© Reuters. FILE PHOTO: People walk in front of the Brazil's B3 Stock Exchange in Sao Paulo, Brazil July 6, 2023. REUTERS/Amanda Perobelli/File Photo

"The launch meets the demand for a derivative that allows a hedge against bitcoin's price fluctuations or a directional exposure to the asset," B3's superintendent of swap rates and currency products, Felipe Goncalves, said in the statement.

B3 said the futures contract will have a financial settlement, with no buying or selling of actual bitcoin.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.