03/29/2024 – 10:31
The CVM (Securities Commission) approved the launch of the bitcoin futures contract by B3 (Stock Exchange), which should begin trading on April 17th of this year.
“Confirmation of the launch date is subject to approval, by the CVM, of a B3 operational manual with rules related to the contract,” informed B3.
The new contract will use the NQBTC index (Nasdaq Bitcoin Reference Price) as a reference for business. The value of a contract will be equivalent to 0.1 bitcoin, or 10% of the value of the cryptocurrency in reais, and the maturity will be monthly.
“In this type of contract, the settlement will be exclusively financial, that is, there is no purchase and sale of cryptocurrencies. The financial results of negotiations occur based on the price variation of bitcoin”, highlighted B3.
The Stock Exchange already trades 14 ETFs and BDRs of ETFs related to the cryptocurrency market available for investors to trade. “B3 is expanding its operations in the cryptoactive market, offering investors different ways to diversify their strategies. This launch meets the 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 exchange environment”, said Felipe Gonçalves, product superintendent at B3.
Initially, the bitcoin futures contract will have market makers – agents who negotiate the product and help bring liquidity and reliability to price formation.
#CVM #approves #launch #bitcoin #futures #contract