Brazil's stock exchange B3 has launched futures contracts on Ethereum (ETH) and Solana (SOL), providing the first instance of altcoin trading on its platform.
Contract Specifications
B3's contracts feature small sizes, which, according to product director Marcos Skistymas, helps lower the capital barrier for market entry and arbitrage strategies. The products are dollar-denominated and cash-settled, with expiration occurring on the last Friday of each month.
Market Impact
The futures on ETH and SOL create new arbitrage opportunities between B3 and international exchanges such as CME and Binance. They also enable Brazilian private banks to offer structured products linked to these assets.
Future of the Futures Market in Brazil
B3 has hinted at the possibility of adding other altcoins like Cardano (ADA) and Polygon (MATIC), contingent on meeting certain liquidity thresholds. Options on BTC, ETH, and SOL are also expected to be released in the coming years.
The launch of futures contracts on Ethereum and Solana could further solidify Brazil's position as a key trading hub for cryptocurrencies in Latin America, with anticipated advancements in exchange operations.
