Bitcoin Event Contracts are derivative instruments listed on B3 that allow investors to position themselves on the occurrence or non-occurrence of a specific event related to the variation in the price of Bitcoin, using the Nasdaq Bitcoin Settlement Price Index (NQBTCS) as a reference, on a previously established date.
The Nasdaq Bitcoin Settlement Price Index (NQBTCS) is calculated daily between 3:50 p.m. and 4:00 p.m. (New York time) and published at 4:05 p.m. (New York time). This index is widely used as an international benchmark, including as the reference price for the Bitcoin futures contract (BIT) listed on B3, ensuring global representativeness of the Bitcoin spot market. Administered by Nasdaq, the NQBTCS reflects the price of Bitcoin in U.S. dollars and applies a methodology based on volume-weighted averages, as well as mechanisms designed to mitigate the impact of abnormal prices, volumes, or volatility, thereby ensuring robustness and reduced risk of price manipulation.
These contracts operate in a manner similar to a binary exercise option, in which the outcome at expiration is objective and previously defined:
- If the event occurs, the contract is financially settled at a fixed amount of BRL 100.
- If the event does not occur, the contract expires with no value.
Will the Bitcoin close above 350,000 points on September 30, 2026?”
The investor decides whether to take a position in favor (“Yes”) or against (“No”) the occurrence of the event.
The contract price reflects the probability assigned by the market to that outcome and is quoted on a scale from 0 to 100 points.
At expiration, the contract is automatically cash settled, with a fixed payment of BRL 100 per contract, exclusively for contracts whose event is confirmed.
In accordance with CVM regulatory guidelines, event contracts based on Bitcoin will be restricted to professional investors.
Contracts