B3 Launches Bitcoin Futures in Dollars for the Brazilian Market

The Brazilian stock exchange B3 began trading bitcoin (BTC) futures denominated in dollars on September 21, 2026. This new contract allows investors to trade on the price of bitcoin expressed in dollars within the regulated market. The contract, identified by the code BTC, represents 0.01 bitcoin and is settled exclusively in cash. Expirations are monthly, typically on the last Friday of each month, and settlement is conducted in reais within B3's infrastructure, using the Nasdaq bitcoin price index as a reference. Unlike the bitcoin futures in reais (BIT), the BTC is directly based on the bitcoin price in dollars, allowing investors to distinguish the movement of bitcoin's price from fluctuations of the dollar against the real. B3 also launched the structured operation BC1, which facilitates the exchange between two expirations of the bitcoin futures in dollars. This launch adds to the cryptocurrency derivatives offering that B3 began developing in 2024, including futures for ether (ETH) and solana (SOL). Brazil stands out in the global cryptocurrency market, recording a volume of $252.5 billion between July 2025 and June 2026, the largest in the world during that period. The arrival of BTC reflects the evolution of the Brazilian market towards a diversified offering of instruments related to bitcoin.

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