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Brazil's B3 Stock Exchange to Launch Ether and Solana Futures
B3 will launch these new futures on June 16, opening new investment avenues for institutional buyers seeking crypto asset diversification. The bourse also announces changes to bitcoin futures to increase the accessibility of these products, given bitcoin’s recent price hike.
Brazilian B3 Announces Solana, Ether Futures Launch; Reduces Bitcoin Futures’ Contract Price
The Brazilian Stock Exchange (B3) has announced new developments in the crypto side of its investment offering. The institution disclosed the launch of ether and solana futures contracts to diversify its crypto product offering for potential investors interested in these assets.
The products, which will be available on June 16, were first approved by the Brazilian Securities and Exchange Commission (CVM) and seek to facilitate the entry of institutions into the crypto market without dealing with the custody of these assets, a pain point for small companies.
Marcos Skistymas, product director at B3, reinforced the relevance of these products for the stock exchange, offering “regulated and secure” crypto instruments to its customers. In a note, he stated:
Unlike the bitcoin futures, these contracts will be traded in U.S. dollars, with a price of 0.25 ETH and 5 SOL, respectively. In the same way, B3 announced a reduction in the prices of bitcoin futures contracts, a modification previously greenlighted by the CVM. Prices of these contracts, currently at 0.1 BTC, will be reduced to 0.01 BTC to make these products more accessible to investors and increase market liquidity.
B3 reported that it had been working on the launch of these products since February and expected to roll out these futures contracts by the end of the year.
B3 has become the go-to institution for launching crypto-innovative investment products. In April, B3 debuted the first XRP-based exchange-traded fund (ETF) product, cited as another milestone for the Brazilian stock market.
Read more: XRP ETF Launches in Brazil, Securing Regulated XRP Access for Investors