B3 Considers Launching Ether Futures on Brazilian Stock Exchange

B3, the Brazilian stock exchange, is exploring the expansion of its cryptocurrency trading offerings by considering the introduction of ether futures contracts for institutional investors. 

Building on the success of its bitcoin derivatives launched earlier this year, B3 aims to cater to investors looking to diversify their portfolios with crypto-linked products. Felipe Gonçalves, B3’s superintendent of interest and currency products, highlighted potential interest in ether futures following the recent approval of ether-based ETFs in the U.S., signaling a growing demand in Brazil. 

While B3 pioneered the launch of bitcoin ETFs in 2021 and continues to explore options such as bitcoin options, specific plans for these new instruments are still under review. The exchange also offers a range of cryptocurrency-related ETFs through Brazilian Depositary Receipts (BDRs), linking Brazilian investors to global ETFs in the cryptocurrency sector.

Clever Robot News Desk 27^th June 2024