Leading cryptocurrency BitcoinWhile spot BTC ETFs continued to reach wider audiences after the SEC approved them in January, another approval came from Brazil.
According to Reuters news, Popular Brazilian cryptocurrency exchange B3 announced that the country’s securities regulator has given permission to offer Bitcoin futures to its customers.
Accordingly, the exchange will start Bitcoin futures trading on April 17. Exchange, BTC He said that the futures contract allows transactions to be made without the need to buy and sell real Bitcoin.
Accordingly, Bitcoin futures will be pegged to the Nasdaq Bitcoin Reference Price, and each contract will represent 10% of Bitcoin’s BTC value priced in Brazilian reals.
Speaking to Reuters, B3 senior executive said the following about the new Bitcoin development:
“The launch meets Bitcoin’s demand for a derivative that provides a hedge against price fluctuations or directional risk to the asset.”
With the latest BTC decision, Brazil continues to be one of the countries that attract attention with its positive attitude towards Bitcoin and cryptocurrencies.
*This is not investment advice.
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