Brazil’s B3 exchange has just launched futures contracts for Ethereum and Solana, marking the initial step in its plan to expand into more altcoins. These contracts are priced in USD, based on the underlying asset price on Nasdaq, aimed at attracting international investors. Each ETH contract represents 0.25% of a token, while the Solana contract is 5 SOL, payable on the last Friday of the month.
At the same time, B3 also adjusted the Bitcoin futures contract, reducing the value of each contract from 0.1 BTC to 0.01 BTC to attract domestic retail investors. Previously, B3 drew attention when it launched the world’s first XRP ETF. Although Brazil is not at the forefront of altcoin futures, this move demonstrates its ambition to become a cryptocurrency hub, despite facing challenges regarding taxes imposed on both direct and indirect investments.
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