CoinDesk
Brazil's B3 stock exchange began trading options on bitcoin, ether and solana futures on July 6, extending the region's most developed regulated crypto derivatives stack. The contracts include call and put options on BRL-denominated bitcoin futures and USD-denominated ether and solana futures, all referencing Nasdaq crypto indexes, per a B3 circular.
Settlement flows into the underlying futures contracts rather than spot cryptoassets, a structure B3 has stressed avoids any on-platform custody, transfer or administration of tokens. The options trade independently from 9:00 a.m. to 6:30 p.m. local time, and exercise is automatic at expiry when the contract finishes in the money, unless the holder intervenes to block exercise.
Why it matters
B3 is the dominant exchange venue for Brazilian equities and a deep pool of local asset managers, brokers and prop desks. Routing crypto derivatives through that rail, in local currency for bitcoin, lets institutional and retail capital express crypto views, hedge spot exposure and trade volatility inside a regulated Brazilian market rather than routing to offshore perpetual or options venues. The structure also lowers the onboarding bar for traditional finance participants who are comfortable with B3's clearing but wary of holding spot tokens.
Market impact
The launch builds on B3's broader push into regulated crypto products, which already includes bitcoin futures in reais, ether and solana futures in dollars, and a push toward bitcoin-linked event contracts. Adding an options layer on top of each futures contract materially expands what local desks can do with B3 as a single venue: structured products, covered calls, protective puts, and cross-asset volatility trades that previously required offshore execution. Watch local BRL-denominated bitcoin futures open interest and any follow-on filings for additional underlyings as the cleanest read on demand.
Source: [Latin America's biggest stock exchange now offers options on bitcoin, ether and solana futures]
Frequently asked questions
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What did Brazil's B3 launch on July 6?
B3 began trading options on bitcoin, ether and solana futures, with bitcoin options denominated in Brazilian reais and ether and solana options denominated in U.S. dollars, all referencing Nasdaq crypto indexes.
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Do B3's new crypto options settle into spot tokens?
No. The options settle into the underlying futures contracts. B3 has stressed the products do not involve custody, transfer or administration of spot cryptoassets.
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What hours do the new B3 crypto options trade?
The options trade independently from 9:00 a.m. to 6:30 p.m. local time, following B3's derivatives trading schedule, with automatic exercise at expiry when the contract finishes in the money.
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Why is this launch significant for Brazilian institutional traders?
It gives local asset managers, brokers and prop desks a regulated, in-country venue to hedge crypto exposure, trade volatility and build structured positions, with a BRL-denominated bitcoin contract, without routing through offshore options markets.
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What other crypto products does B3 already offer?
B3 already lists bitcoin futures denominated in reais, ether and solana futures denominated in dollars, and has been preparing bitcoin-linked event contracts, making the new options an additional layer on top of an existing regulated stack.
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