B3 plans to launch bitcoin futures contract in April

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According to the Brazilian stock exchange, the product will work in a similar way to conventional futures contracts, allowing investors to negotiate the price variation of the cryptocurrency in a regulated environment with daily liquidity. Bitcoin Disclosure B3 reported this Thursday (28) that it expects to make the bitcoin futures contract available on the market on April 17, after the Securities and Exchange Commission (CVM) approved the launch of the product by the exchange operator. “Confirmation of the launch date is subject to the approval, by the CVM, of a B3 operational manual with rules related to the contract”, stated B3 in a note. The company said the product will work in a similar way to conventional futures contracts, allowing investors to trade cryptocurrency price changes in a regulated environment with daily liquidity. B3 already offers 14 ETFs and ETF BDRs related to the cryptocurrency market and aims to expand its operations in the sector with the launch of bitcoin futures. 🎧 PODCAST: Find out everything about ETFs “This launch meets a demand for a derivative product that allows protection from bitcoin price fluctuations or directional exposure to the asset, maintaining the security of operating in the Brazilian stock market environment”, said the superintendent of Interest and Currency Products at B3, Felipe Gonçalves, in a note. The bitcoin futures contract will use the Nasdaq Bitcoin Reference Price index as a reference and will have a value equivalent to 0.1 bitcoin, or 10% of the value of the cryptocurrency in reais, with monthly maturity. The settlement will be exclusively financial, not involving the purchase and sale of cryptocurrencies, and the financial results will be based on the price variation of bitcoin. At launch, the bitcoin futures contract will initially rely on market makers to assist with liquidity and price formation of the product. Retail investors will need to deposit a minimum amount of R$100 per contract with the broker to trade bitcoin futures, which will always expire on the last Friday of the month, according to B3. Selic rate: understand what the basic interest rate is for the Brazilian economy

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