Institutional interest for crypto keeps growing. Many countries around the world start offering tools for institutions to add crypto assets to their portfolios. For example, with ETFs. Brazil now joins this list of countries. Brazil’s stock exchange B3 will launch Ethereum and Solana futures contracts. These future contracts will launch on 16th June.
So, let’s take a closer looks at these Ethereum and Solana futures contracts at B3.
Ethereum and Solana futures contracts at B3 in Brazil
The B3 stock exchange in Brazil announced Ethereum and Solana futures contracts. This opens new investment opportunities and options for institutions in Brazil. In April, B3 already started offering $XRP ETFs. All this diversifies B3’s offerings in crypto products.
Brazil’s stock exchange B3 will launch Ethereum (ETH) and Solana (SOL) futures contracts on June 16, following approval by securities regulator CVM. Contracts will be USD-denominated, sized at 0.25 ETH and 5 SOL. To boost liquidity, Bitcoin futures contract size will be reduced…
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The two futures contracts are already approved by the Brazilian SEC or CVM. Futures contracts give institutions exposure to crypto assets. However, without having to deal with their custody. That’s like ETFs. This is an important consideration for institutions. Especially smaller firms may refer this option.
Instead of holding the assets in their own custody, they buy shares from the asset provider. In this case, the Brazilian stock exchange B3. They hold the underlying asset and take care of custody. The institutions only have to buy shares into the funds.
At the same time, B3 can offer regulated and secure crypto assets to its customers. Especially considering that the CVM has approved the Ethereum and Solana futures. B3 sees a growing demand for these products. Now they can also fill this demand.
The Ethereum and Solana futures will be traded in USD. This in contrast to Bitcoin futures. Their prices will be price of 0.25 $ETH for the Ethereum futures. The $SOL futures will be 5 SOL.
In light of the recent $BTC price development, B3 reduced the price of Bitcoin futures. The price was 0.1 $BTC. However, it’s now reduced to 0.01 $BTC. This should increase liquidity and make them more accessible. The CVM already approved this price reduction for the Bitcoin futures.
Furthermore, B3 revealed that they are working on two more products since February. You can expect these products to hit the market by the end of the year. However, B3 didn’t reveal what these other two products are.
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