First Bitcoin futures contract launches in Latin America
- Argentina has welcomed its first Bitcoin futures contract, just three months after approval from the country’s securities watchdog.
- The futures contract, offered by trading platform Matba Rofex, is the first of its kind in Latin America.
- Qualified institutional investors will initially have access to the Bitcoin futures contract, with no timeline set for retail investors.
- The contract will be settled in Argentine pesos, with deposits made through bank transfers.
- This move comes as Argentinians turn to Bitcoin to combat hyperinflation in the country.
Bitcoin futures contract delayed in Brazil
- Brazilian regulators are evaluating a Bitcoin futures contract backed by the local stock exchange B3.
- The launch of the contract, originally scheduled for June 30, has been delayed to September 30.
Bitcoin futures premiums surge
- Bitcoin futures premiums reached their highest level in 18 months on July 4.
- Traders are questioning whether this surge indicates “excessive excitement” or a return to normalcy after a bear market.
In summary, Argentina has become the first country in Latin America to launch a Bitcoin futures contract, offering qualified institutional investors exposure to BTC in a regulated environment. This move comes as Argentinians seek refuge from hyperinflation. Meanwhile, Brazil is facing delays in launching its own Bitcoin futures contract, and the market is experiencing a surge in futures premiums, raising questions about market sentiment. It’s an exciting time for crypto in South America, but only time will tell how these developments will impact the region’s financial landscape.