Bitcoin Futures Demand Blows up in Brazil: 7,400 Contracts Traded on Launch Day

The first bitcoin futures contracts listed on B3, the stock exchange in Brazil, experienced significant interest from investors on debut day. According to a note delivered by the stock operator, 7,400 bitcoin futures contracts were traded, with the instrument reaching a peak of 111,000 orders on screen. While B3 has also bitcoin ETF contracts, futures are part of a diversification policy to reach more investors.

Bitcoin Futures Register Relevant Demand: 7,400 Contracts Negotiated

B3, the Brazil stock exchange, registered significant demand for its bitcoin futures contracts during the launch day. The stock operator stated that the instrument reached a peak of 111,000 buy or sell orders on screen on April 17, showing a relevant demand from investors. These operations caused 7,400 bitcoin futures contracts to be traded that day.

Marcos Skistymas, Listed Products Director at B3, explained the relevance of having this kind of product in B3 for Brazilian investors. “The market now has an appropriate instrument to protect itself or operate against the expectation of price variation,” he stressed, remarking on the functionality of the contracts.

On the high interest that investors showed for B3’s bitcoin futures contract, he stated:

This is the first derivative linked to a crypto on B3 and was highly demanded by the market, which justifies the good numbers on the first day.

B3 announced the listing of these bitcoin derivatives contracts in March when it was greenlighted by the Brazilian Securities and Exchange Commission (CVM). The Brazilian stock exchange already has 14 cryptocurrency ETF products listed, but the release of a native bitcoin futures contract was a consequence of a diversification strategy of the company, according to Felipe Gonçalves, superintendent of interest and currency products.

Each contract has a value of 0.1 BTC, and the instrument takes the Nasdaq Bitcoin Reference Price (NQBTC) index as a reference for settlements. The contracts are negotiated in Brazilian reais and are financially settled, meaning that there is no purchase or sale of cryptocurrency involved. The contacts are settled each month.

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