Summary
- Brazil's largest stock exchange B3 announced today it will officially begin trading Ethereum (ETH) and Solana (SOL) futures.
- Both products will be traded in USD to attract international investors, while the trading unit of Bitcoin (BTC) futures has been lowered as a strategy to attract local retail investors.
- B3 has recently been actively positioning Brazil as a crypto hub, for example by listing the XRP spot ETF.
Brazil's largest stock exchange, B3, officially launches trading of Ethereum (ETH) and Solana (SOL) futures starting today. Additional token futures listings are also expected in the future.
According to BeInCrypto on the 17th (local time), B3's Ethereum futures are traded in units of 0.25 ETH, while Solana futures are traded in units of 5 SOL. Both products are traded in USD to attract international investors.
In addition, the trading unit for Bitcoin (BTC) futures, which were already available, has been adjusted from 0.1 BTC to 0.01 BTC. Unlike the altcoin futures aiming at global investors, this strategy of lowering the trading unit for Bitcoin futures by 10 times is intended to attract domestic retail investors.
Two months ago, B3 attracted global attention in the crypto market by listing the world’s first spot XRP ETF (XRPH11). Recently, Brazil has been accelerating its efforts to become a cryptocurrency hub and is preparing for crypto regulations.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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