TL;DR
- B3, Latin America’s and Brazil’s leading stock exchange, launched an options market on bitcoin, ethereum, and solana futures.
- The contracts settle against the underlying futures, not against the tokens, so they involve no custody or transfer of cryptocurrencies.
- Bitcoin futures are denominated in Brazilian reais, while those for ethereum and solana are expressed in US dollars.
B3, Latin America’s largest stock exchange, carried out the launch of an options market on bitcoin, ethereum, and solana futures, considerably expanding its catalog of regulated crypto derivatives.
According to a circular issued by the firm itself, the contracts are already available for trading and include call and put options on bitcoin futures denominated in Brazilian reais, while ethereum and solana futures are expressed in US dollars.
How the Contracts Operate on B3
The settlement mechanics distinguish these instruments from direct crypto access products: the contracts settle against the underlying futures, not against the tokens themselves. B3 clarified that the products do not involve custody, transfer, or management of crypto assets in the spot market. Exercise is automatic at expiration when the option ends in the money, unless the holder expressly blocks exercise.
The trading session runs independently between 9:00 and 18:30, local time, in accordance with the exchange’s derivatives calendar. All three contracts reference the Nasdaq crypto indices, according to the official announcement.
No Custody, Full Exposure
The launch of this market offers traders and asset managers a local platform to hedge crypto exposure, trade volatility, and build structured positions without having to rely on offshore options markets. The availability of these instruments within a regulated system and in local currency reduces the typical operational complexities and accessibility limitations for institutional investors with mandate restrictions.
B3 is advancing a strategy designed to incorporate digital asset-linked products within its ecosystem. Previously, B3 had listed options on bitcoin and futures on ethereum and solana, and more recently had launched bitcoin-linked event contracts. The addition of options on futures strengthens that trajectory and positions the Brazilian company as one of the most active regulated markets for crypto derivatives in the region.
