On the day of the launch of BTC futures in Brazil, 7,400 contracts were traded

On the first day of launch, the Brazilian stock exchange B3 recorded significant demand for Bitcoin futures contracts. The company said it reached a peak of 111,000 buy or sell orders on April 17, indicating strong demand from investors. As a result of these transactions, 7,400 BTC futures contracts were traded on the first day.

B3 Director of Listed Products Marcos Skistimas described the significance of the new product for Brazilian investors:

The market now has the appropriate tool to protect itself or act against price expectations.

This is the first cryptocurrency derivative on B3 and is in high demand in the market, justifying the strong first day performance.

The listing of Bitcoin derivatives contracts on B3 was first announced in March, when the Brazilian Securities and Exchange Commission gave permission to do so.. There are currently 14 cryptocurrency ETF products listed on the Brazilian Stock Exchange, but the launch of its own Bitcoin futures contract signals a diversification strategy.

Each contract has a value of 0.1 BTC, and the tool uses the Nasdaq Bitcoin Core Price Index (NQBTC) as a calculation benchmark.. Contracts are concluded in Brazilian reals and are subject to financial settlement, without directly involving the purchase or sale of cryptocurrency.