The Brazilian exchange, known as B3, has made key changes to its cryptographic investment products. From June 16, B3 will introduce new term contracts into two widely used cryptocurrencies: Ethereum (ETH) and Solana (soil).
This would help attract more institutional investors who wish to invest in cryptographic assets but do not want the complexity of investing directly in the crypto, in particular because of the problems associated with childcare and security.
Investors will be able to bet On the value of Ethereum and Solana through these term contracts without really holding virtual currency. The country’s financial authority, the Brazilian commission for securities and exchange (CVM), has already approved new contracts. Each contract will be estimated at 0.25 ETH or 5 soil, and they will be assessed in US dollars.
Marcos Skistymas, Product Director B3, spoke of the importance of these new products. He said the objective was to provide “regulated and secure” means for investors to access cryptocurrencies. Skistymas added that this decision means the dedication of B3 to innovation and to respond to the expansion of the demand for financial products according to the blockchain.
In addition to launching these new contracts, B3 makes changes to its existing Bitcoin term contracts. Bitcoin term contracts on the B3 have so far been denominated in 0.1 BTC per contract. However, on June 16, it will be less than 0.01 BTC. This aims to make contracts in the long term Bitcoin accessible and more available at a reasonable cost for wider investors. Until now, the approval of this amendment has also been granted by CVM.
B3 revealed that he has been developing these new Crypto Futures products since February and initially intended to deploy them by the end of the year. However, the calendar was advanced due to the growing interest of institutional investors and the recent increase in the price of bitcoin.
B3 cryptocurrency initiatives have already drawn the attention of the media. By becoming the first Brazilian scholarship to offer an FNB based on XRP in April, it showed its continuous commitment in the expansion of investment alternatives based on cryptocurrency in the country.
Read also: Brazilian Crypto Exchange Mercado Bitcoin integrates the green hole
