Brazilian “old iron” futures and options are here: ETH and SOL are priced in US dollars, while BTC is priced in Brazilian reals. This currency split is pretty granular. Automatic exercise is friendly for retail traders, but you need to keep a close watch to avoid getting hit with an unexpected settlement and not being forced into an unexpected delivery.

Brazil's B3 exchange launches options on Bitcoin, Ethereum, and Solana futures, trading starts July 6. BTC futures call/put options are denominated in Brazilian Real, ETH and SOL futures are denominated in USD. Options settle into underlying futures, no spot custody involved. Trading hours 9:00-18:30. If in-the-money at expiration, options are automatically exercised unless holder prevents it. Provides local investors a venue to hedge crypto risk, trade volatility, and build structured positions, avoiding offshore markets.