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B3, the Brazilian stock exchange, is considering extending its native cryptocurrency trading options to offer ether futures contracts to its customers. The exchange, which has been a pioneer in Latam offering crypto-related trading products, would be focusing on institutional investors who want to diversify their traditional or crypto portfolios with more options.
Brazilian Stock Exchange B3 Considers Launching Ether Futures and Bitcoin Options
Brazilian investors and institutions are also looking for crypto-linked products to invest in. B3, the Brazilian stock exchange, is studying the possibility of extending its native cryptocurrency-linked portfolio options for institutional investors.
According to local media, B3’s superintendent of interest and currency products Felipe Gonçalves revealed that the exchange could offer ether futures contracts in the future, given the success that its bitcoin counterparts experienced when launched in April.
B3 might be seeking to take advantage of the recent approval of the first ether-based exchange-traded funds (ETF) in the U.S., preparing for an eventual demand for similar investment options in Brazil.
Over 7,400 contracts were negotiated during the first day of bitcoin futures trading in B3, being the first crypto derivatives contract traded in the exchange. This indicated there was a demand for this kind of native product. Nonetheless, B3 launched the first bitcoin ETF in 2021, pioneering the space with the listing of QR Asset’s QBTC11.
Gonçalves also referred to the possibility of including bitcoin options in B3’s platform. Making a case for institutional portfolio diversification, he stated:
It is important for institutional investors to enter other products such as ETFs and other opportunities.
However, no concrete decisions have been taken on issuing either instrument yet. B3 also offers a series of exchange-traded funds related to the cryptocurrency industry under the Brazilian Depositary Receipts (BDR) figure, which are securities issued in Brazil but backed by shares of the corresponding ETF issued abroad under contract.