Bitcoin futures trading to go live on Brazil's stock exchange in April

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Brazilian exchange operator B3 said it received approval from the country’s securities regulator to offer Bitcoin futures, with trading set to start on Apr. 17, as reported by Reuters.

“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.

The Bitcoin futures will be tied to the Nasdaq Bitcoin Reference Price valued in Brazilian reais. Each contract equals 10% of Bitcoin’s price. Moreover, as reported by Crypto Briefing, the Brazilian stock exchange also plans a night shift for Bitcoin futures trading.

B3 already offers a range of crypto exchange-traded products (ETP), from multi-markets funds to exchange-traded funds (ETF). HASH11 was the first crypto ETF to be listed in Brazil, in April 2021, and it tracks the Hashdex Nasdaq Crypto Index.

This array of crypto ETPs in Brazil can be attributed to the country’s securities regulator’s positive stance towards crypto. Since October 2022, Brazilian funds have been allowed to invest part of their capital into crypto, as long as they are traded in regulated platforms. This ruling cleared the ground for asset managers and gave a variety of crypto assets to be invested in, such as tokenized real-world assets (RWA).

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