Brazil’s main stock exchange, B3, will launch night trading sessions later this year featuring Bitcoin ETFs and Ibovespa futures. The move will see trading hours extended to 9:45 PM local time (which is 12:45 a.m. in London and 7:45 p.m. in New York), a response to the increasing demand from individual investors for more flexible trading options.

Besides Bitcoin, B3 will open trading for Ibovespa ETFs—the country’s equivalent to the U.S. S&P 500.

“There’s a significant number of people who wish to trade at the end of the day. We perceive a certain pent-up demand for such an operation,” said Gilson Finkelsztain, President of B3, in a Thursday press conference. However, he noted, “This is a test. It increases cost, increases risk. We need to test whether it will be good or bad for liquidity.”

This expansion of trading hours is not just a logistical change but signifies a broader shift in Brazil’s approach to financial markets. Brazil has been at the forefront in embracing cryptocurrency, and is home to the most crypto ETFs in the Americas. The country’s first crypto ETF, HASH11, was approved in 2021, setting a precedent in the region. In contrast, the United States only recently approved its first spot Bitcoin ETF in January 2023 and has no applications for any spot crypto ETF featuring altcoins.

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Author: Jose Antonio Lanz

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