Defi Tech's Valour to list four ETPs on Brazil's B3

Executive Summary

• Defi Technologies' subsidiary, Valour, has received regulatory approval from Brazil's B3 exchange to list four digital asset Exchange-Traded Products (ETPs): Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV), and Valour SUI (VSUI).
• The products are scheduled to begin trading on December 17, 2025, marking Valour's first major expansion outside of Europe and establishing a foothold in Latin America's largest crypto economy.
• The listings will utilize the BDR on ETP structure, allowing Brazilian investors to gain locally listed, Brazilian-real-denominated exposure to digital assets through existing brokerage and custody rails.

Key Details

• Approved Products: Four specific ETPs are approved for listing:
  • Valour Bitcoin (BTCV)
  • Valour Ethereum (ETHV)
  • Valour XRP (XRPV)
  • Valour SUI (VSUI)
• Listing Structure: The products will be listed via BDR (Brazilian Depositary Receipts) on ETP.
• Trading Start Date: December 17, 2025.
• Ceremony: A bell-ringing ceremony is scheduled for market close on December 19, 2025, at the B3 exchange floor in São Paulo.
• Strategic Context: This represents Valour's first major foothold outside of Europe, where it currently lists approximately 100 ETPs across major venues including Spotlight Stock Market, Borse Frankfurt, SIX Swiss Exchange, London Stock Exchange, and Euronext.
• Market Rationale: Brazil is identified as Latin America's largest crypto economy, with an estimated $318.8 billion to $319 billion in crypto assets transacted between July 2024 and June 2025. Brazil ranks fifth globally in crypto adoption according to Chainalysis's 2025 Global Crypto Adoption Index.
• Regulatory Environment: The expansion leverages Brazil's maturing regulatory framework, including the Virtual Assets Act (law No. 14,478/2022) and 2025 rules extending financial-sector standards and AML/CTF requirements to crypto intermediaries.
• Product Features: The ETPs provide institutional-grade, exchange-traded access to digital assets, offering transparent on-exchange pricing, local settlement, and familiar governance standards for both retail and institutional investors.

Notable Quotes

• "Brazil is one of the most important and fastest-growing digital asset markets globally, and B3 is at the centre of that growth... Listing Valour's BTCV, ETHV, XRPV and VSUI products on B3 is a natural extension of our European franchise and a foundational step in our broader expansion into Latin America and other high-growth regions." — Johan Wattenstrom, CEO and Executive Chairman of Defi Technologies and Co-founder of Valour.
• "Across Europe, Valour has built the world's largest shelf of digital asset ETPs, and we see similar demand patterns beginning to emerge in Brazil... By providing local listings of our core ETPs, we offer Brazilian investors product exposure which over time, we expect to grow to support additional Brazilian listings, structured products and solutions tailored to the region's rapidly developing investment market." — Andrew Forson, President of Defi Technologies and Chief Growth Officer of Valour.