B3 will launch these new futures on June 16th, opening new investment vehicles to buyers at institutions seeking diversification of crypto assets. Bourse is announcing changes to Bitcoin futures to make these products more accessible, given the recent price hikes for Bitcoin.
Brazil B3 has announced Solana, a release of ether futures. Lower Bitcoin futures contract price
The Brazilian Stock Exchange (B3) has announced new developments on the crypto side of its investment provider. The agency has disclosed the launch of Ether and Solana futures contracts to diversify its cryptographic product offerings for potential investors interested in these assets.
The products available on June 16th were first approved by the Brazilian Securities and Exchange Commission (CVM) and are seeking to encourage institutions to enter the crypto market without dealing with the management of these assets, or dealing with the problems of small and medium-sized enterprises.
B3 product director Marcos Skistymas has strengthened the relevance of these products on the stock exchange, providing customers with “regulated and secure” cryptographic instruments. In his notes, he states:
B3 brings more innovation and refinement to our products, along with making new crypto derivatives equipment available to meet the growing demand for Crypto asset-linked products and offering more alternatives to blockchain technology-savvy investors.
Unlike Bitcoin futures, these contracts trade in US dollars at prices of 0.25 ETH and 5 SOL respectively. Similarly, B3 has announced a reduction in the price of its Bitcoin futures contracts. The price of these contracts at 0.1 BTC is now reduced to 0.01 BTC, making these products more accessible to investors and increasing market liquidity.
B3 has been working on launching these products since February and reported that it expects to roll out these futures contracts by the end of the year.
B3 has become the go-to institution for launching encrypted, approved investment products. In April, B3 debuted its first XRP-based Exchange-Traded Fund (ETF) product, cited as another milestone in the Brazilian stock market.
Read more: XRP ETF launch in Brazil to ensure regulated XRP access for investors