B3, a popular Brazilian stock exchange, is launching night trading sessions soon. Per the company’s announcement, released over the weekend, the trading hours will be pushed to 9:45 PM local time. The move is a response to the growing demand for flexible trading options by retail investors.
Speaking to the press, B3 President Gilson Finkelsztain said customers would be allowed to trade Ibovespa and crypto ETFs during the night trading sessions. He, however, noted that the move is only a test, which the firm will use to gauge whether the night sessions are good or bad for the available liquidity.
Brazil’s Cryptocurrency Love Affair
The extension of the trading hours shows a wider shift in how the Brazilian authorities view the financial markets. In recent years, Brazil has embraced crypto assets, becoming a home to several cryptocurrency ETFs. Regulators approved the nation’s first-ever cryptocurrency ETF, HASH11, in 2021. By comparison, the United States gave the green to a spot Bitcoin ETF this month and has yet to approve applications for spot crypto ETFs linked to altcoins.
Meanwhile, Finkelsztain anticipates growth in crypto ETF trading volume on the B3 stock exchange when they extend trading hours. Moreover, he says B3’s goal this year is to add more liquidity.
Big Traditional Firms in Brazil Embrace Crypto
In Brazil, the integration of crypto into traditional financial systems is becoming common. Major brokers and banks continue to explore blockchain to find ways to integrate it into their business models.
Brazil’s biggest private bank, Itaú, recently announced plans to introduce tokenized assets, while digital bank Nubank has already launched its native digital currency dubbed NuCoinEven. Meanwhile, the Central Bank of Brazil is conducting a pilot test on its CBDC called the DREX. Moreover, several respected banks have forged partnerships with brokers to facilitate the trading of Bitcoin ETFs.
BTG Pactual’s Head of Digital Assets, André Portilho, has claimed that the digital asset market now resembles the stock markets, citing the declining volatility in the crypto market, which, according to him, is currently lower than many stocks listed on Nasdaq.
SureTradeGroup.com is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site is paid content that is not written or posted by our writers or editors and the opinions expressed do not reflect the opinions of this website. Any disagreement you may have with brands or companies mentioned in articles will need to be taken care of directly with those specific brands and companies. The responsibility of anyone who may click links in our articles and ultimately sign up for that product or service is their own. Forex, Stocks, Cryptocurrencies, NFTs and Dogital Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.