Brazil's B3 stock exchange now offers options trading on Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies as it expands its derivatives offerings.
The derivative contracts on Latin America’s biggest stock exchange include call and put options on Bitcoin in Brazilian reais, while Ethereum futures are denominated in U.S. dollars.
Administrators for the B3 exchange said the crypto options do not involve custody or transfer.
The options contracts give traders and asset managers a local venue to hedge their crypto exposure, trade volatility, and build positions without using offshore crypto options markets.
The move comes as the B3 exchange pushes further into regulated cryptocurrency products.
Options contracts are bets on the future direction of an asset such as Bitcoin. Call options are bets that the price will rise, while put options are bets the price will fall.
Bitcoin is trading at $62,800 U.S. on July 9.
