DeFi Technologies' Subsidiary Valour to List Four Digital Asset ETPs on Brazil's B3 Exchange

Rhea-AI Summary

DeFi Technologies (Nasdaq: DEFT) subsidiary Valour received B3 approval to list four BRL‑denominated digital asset ETPs — Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV) and Valour SUI (VSUI) — scheduled to begin trading on December 17, 2025 with a bell‑ringing ceremony on December 19, 2025.

Valour will offer locally listed exposure through existing Brazilian brokerage and custody rails as part of its international expansion beyond Europe, where it already lists ~100 ETPs. Brazil is highlighted as Latin America’s largest crypto economy, with an estimated US$318.8–319 billion in crypto transactions between July 2024–June 2025, and evolving regulatory rules that extend financial‑sector AML/CTF standards to crypto intermediaries.

Positive

• Four BRL‑denominated ETPs listing on B3 starting Dec 17, 2025
• Local on‑exchange access via existing Brazilian brokerage and custody rails
• Valour already operates ~100 digital asset ETPs across Europe
• Brazil recorded US$318.8–319B crypto volume (Jul 2024–Jun 2025)

Negative

• None.

News Market Reaction

-3.65%

15 alerts

-3.65% News Effect

-8.7% Trough in 26 hr 9 min

-$19M Valuation Impact

$502M Market Cap

0.4x Rel. Volume

On the day this news was published, DEFT declined 3.65%, reflecting a moderate negative market reaction. Argus tracked a trough of -8.7% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $19M from the company's valuation, bringing the market cap to $502M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Brazil ETP count: 4 digital asset ETPs Brazil trading start: December 17, 2025 Bell ceremony date: December 19, 2025 +5 more

8 metrics

Brazil ETP count 4 digital asset ETPs Valour Bitcoin, Ethereum, XRP, SUI on B3

Brazil trading start December 17, 2025 Scheduled B3 trading commencement for ETPs

Bell ceremony date December 19, 2025 B3 bell‑ringing ceremony in São Paulo

Existing ETP lineup approximately 100 ETPs Valour products listed across European exchanges

Brazil population more than 213 million people Size of Brazil’s unified financial market

Brazil crypto volume US$318.8–319 billion Crypto assets transacted Jul 2024–Jun 2025

Crypto adoption rank 5th worldwide Brazil in Chainalysis 2025 Global Crypto Adoption Index

Virtual Assets Act Law No. 14,478/2022 Brazil law recognizing and regulating crypto assets

Market Reality Check

Price: $0.8689 Vol: Volume 5,114,135 is below...

low vol

$0.8689 Last Close

Volume Volume 5,114,135 is below the 20-day average of 11,686,728 (relative volume 0.44) ahead of this Brazil listing news. low

Technical Shares trade below the 200-day MA at 2.46, with the latest price at 1.13, well under prior longer-term trend levels.

Peers on Argus

DEFT was up 0.85% pre‑news, while crypto‑linked peers showed mixed action: HIVE ...

DEFT was up 0.85% pre‑news, while crypto‑linked peers showed mixed action: HIVE +5.5%, BTBT +6.96%, AMRK +2.17%, OPY +0.22%, and FUFU -2.01%. This points more to stock‑specific positioning than a broad sector move.

Common Catalyst Select crypto peers like BitFuFu also had crypto‑expansion headlines, but only one peer showed same‑day news, suggesting limited direct sector‑wide catalyst overlap.

Historical Context

5 past events · Latest: Dec 10 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 10	Venture listing	Positive	+0.8%	TenX Protocols completed C$33M financing and TSX‑V listing as TNX.
Dec 04	Brazil ETP launch	Positive	-3.6%	Valour gained B3 approval to list four BRL‑denominated digital asset ETPs.
Nov 26	Stablecoin milestone	Positive	+20.9%	Stablecorp’s QCAD became Canada’s first compliant CAD stablecoin via prospectus.
Nov 17	Leadership change	Negative	-14.6%	CEO and Chairman resigned; co‑founder Johan Wattenström appointed successor.
Nov 14	Earnings and guidance	Negative	-15.2%	Q3 revenue and income reported alongside a significant 2025 guidance reduction.

Pattern Detected

Crypto/expansion news has often moved DEFT sharply, with mostly aligned reactions; only the prior Brazil ETP announcement saw a negative divergence.

Recent Company History

Over recent months, DeFi Technologies reported multiple crypto‑focused milestones. Q3 2025 results on Nov 14 highlighted $22.5M revenue and a CEO transition, followed by leadership changes on Nov 17. Subsequent updates showcased Stablecorp’s QCAD prospectus and TenX Protocols’ TSX‑V debut, alongside Valour reaching about 100 listed ETPs and nearly $1B AUM. The Brazil ETP listing fits this theme of expanding regulated digital‑asset access into new markets beyond Europe.

Market Pulse Summary

This announcement details Valour’s planned listing of four digital asset ETPs on Brazil’s B3, schedu...

Analysis

This announcement details Valour’s planned listing of four digital asset ETPs on Brazil’s B3, scheduled to start trading on December 17, 2025. It represents Valour’s first major foothold outside Europe, extending a platform of roughly 100 products into Latin America’s largest crypto economy, where an estimated US$318.8–319 billion in crypto assets transacted over one year. Within DeFi Technologies’ broader crypto initiatives, this adds another regulated access point; investors may track adoption, AUM growth and future regional product launches.

Key Terms

exchange traded products, ETPs, BDR, Layer 1, +3 more

7 terms

exchange traded products financial

"a leading issuer of exchange traded products ("ETPs") has received approval"

Exchange traded products are securities that trade on stock exchanges and are designed to track the price of an asset, index, or investment strategy—think of them as a single basket you can buy that represents many underlying things like stocks, bonds, or commodities. They matter to investors because they offer an easy, often lower-cost way to get broad or targeted market exposure and can be bought or sold throughout the trading day like a regular share, making diversification and tactical moves simpler.

ETPs financial

"four digital asset ETPs — Valour Bitcoin (BTCV), Valour Ethereum (ETHV)"

ETPs are investment products that trade on stock exchanges like individual shares but represent exposure to a basket of assets, a commodity, a market index, or a debt note. They matter to investors because they offer easy, intraday access to diverse markets or specific themes—like buying a single slice of a larger pie—while carrying costs and risks (including tracking error and, for some types, issuer credit risk) that can affect returns.

BDR financial

"to list four digital asset exchange traded products ("ETPs") via BDR on ETP"

A BDR is a certificate traded on a local stock market that represents shares of a foreign company held by a custodian abroad, much like a local voucher that stands in for an overseas product. It matters to investors because it lets them buy exposure to foreign firms without dealing directly with a foreign exchange, while still carrying extra considerations such as currency shifts, different regulations, and potential differences in liquidity and trading hours.

Layer 1 technical

"Its lineup spans:Layer 1 and Layer 2 networksModular data availability"

A layer 1 is the base blockchain network that records transactions, enforces the rules, and secures the system — think of it as the main highway on which all other traffic runs. It matters to investors because its performance, fees and security determine how useful and valuable applications and tokens built on top will be; improvements or problems at this foundational level can affect many projects and market value at once.

Layer 2 technical

"Its lineup spans:Layer 1 and Layer 2 networksModular data availability"

Layer 2 is a secondary system built on top of a blockchain that handles transactions or computations off the main ledger to make the network faster and cheaper, like adding express lanes beside a busy highway so cars move more smoothly without rebuilding the road. For investors, layer 2 matters because it can increase real-world use, lower user fees, and change demand for tokens or services tied to the underlying blockchain, affecting project value and adoption risk.

AML/CTF regulatory

"extend financial-sector standards and AML/CTF requirements to crypto intermediaries"

Aml/CTF stands for anti-money laundering and counter-terrorist financing, a set of laws, checks and controls that stop criminals and terrorist groups from moving or hiding illicit funds through banks, companies and markets. For investors it matters because strong Aml/CTF reduces legal, financial and reputational risk—similar to a business having good locks and cameras—while failures can lead to heavy fines, restrictions on operations, and sudden value loss.

Virtual Assets Act regulatory

"Brazil's Virtual Assets Act (Law No. 14,478/2022) and subsequent decrees"

The Virtual Assets Act is a law that sets rules for the use, trading, and management of digital assets like cryptocurrencies. It helps ensure that these digital tools are used responsibly and securely, much like regulations that oversee traditional financial markets. This law matters to investors because it provides clearer guidelines, reducing risks and increasing confidence in digital asset activities.

AI-generated analysis. Not financial advice.

• Valour's Brazil debut: DeFi Technologies' subsidiary Valour has received approval from B3 to list four digital asset ETPs — Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV), and Valour SUI (VSUI) — expected to begin trading on December 17, 2025, giving Brazilian investors BRL-denominated, locally listed exposure via their existing brokerage and custody rails.
  
  
• Global platform, new region: With 100 ETPs already listed across major European exchanges, Valour's entry into Brazil marks its first major foothold outside Europe and a key step in a broader expansion strategy targeting Latin America, Africa, the Middle East, Asia, and other developing regions.
  
  
• Tapping a top-tier market: Leveraging Brazil's position as Latin America's largest crypto economy and its maturing regulatory framework, Valour aims to offer institutional-grade, exchange-traded access to digital assets on B3, aligning with growing demand from both retail and institutional investors.

TORONTO, Dec. 4, 2025 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance  ("DeFi"), is pleased to announce that its subsidiary, Valour Inc., and Valour Digital Securities Limited (together, "Valour"), a leading issuer of exchange traded products ("ETPs") has received approval from B3 S.A. – Brasil, Bolsa, Balcão ("B3") to list four digital asset exchange traded products ("ETPs") via BDR on ETP.

Valour's Brazilian ETPs – Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV) and Valour SUI (VSUI) – are scheduled to begin trading on B3 on December 17, 2025. The new listings will be marked by a bell-ringing ceremony at market close on the floor of the B3 exchange in Sao Paulo Brazil on December 19. The products will provide Brazilian investors with locally listed, BRL-denominated exposure to Valour's leading digital asset ETPs via the same brokerage and custody rails they already use for equities and ETFs.

Valour's ETP Platform Expands into Brazil

Valour currently offers approximately 100 digital asset ETPs across Europe and continues to operate the largest selection of digital asset ETPs globally, listed on major venues including Spotlight Stock Market (Sweden), Börse Frankfurt (Germany), SIX Swiss Exchange (Switzerland), London Stock Exchange (England) and Euronext (Paris and Amsterdam). Its lineup spans:

• Layer 1 and Layer 2 networks
  
  
• Modular data availability and tokenization infrastructure
  
  
• Gaming and creator ecosystems
  
  
• Community and governance tokens

This provides diversified digital asset exposure within regulated, exchange-traded market rails.

The approval to list BTCV, ETHV, XRPV and VSUI on B3 via BDR on ETP represents a key step in Valour's international expansion strategy, which includes Latin America, Africa, the Middle East, Asia and other developing regions globally. Brazil marks Valour's first major foothold outside of Europe, with B3 serving as a regional hub for equities, ETFs and an increasingly broad suite of digital asset-linked products and derivatives. 

Brazil: A Strategic Market

Brazil has emerged as Latin America's largest and most cohesive financial market, with more than 213 million people connected through a single language (Portuguese) and a unified regulatory and capital-markets infrastructure. It is also the region's largest crypto economy, with an estimated US$318.8–319 billion in crypto assets transacted between July 2024 and June 2025, accounting for roughly one-third of all crypto activity in Latin America. According to Chainalysis' 2025 Global Crypto Adoption Index, Brazil now ranks 5th worldwide, reflecting rapid growth in both retail and institutional usage.

This surge in activity is taking place under a maturing regulatory framework. Brazil's Virtual Assets Act (Law No. 14,478/2022) and subsequent decrees have formally recognised crypto assets, appointed the Central Bank of Brazil as the primary regulator of virtual asset service providers, and introduced new rules in 2025 that extend financial-sector standards and AML/CTF requirements to crypto intermediaries. 

Against this backdrop, Valour's regulated, exchange-traded BDR on ETPs on B3 aim to provide Brazilian institutions with institutional-grade access to digital assets, combining transparent on-exchange pricing, local settlement and familiar governance standards.

Management Commentary

"Brazil is one of the most important and fastest-growing digital asset markets globally, and B3 is at the centre of that growth," said Johan Wattenström, Chief Executive Officer and Executive Chairman of DeFi Technologies and Co-Founder of Valour. 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. We believe Brazilian institutional and retail investors want regulated, exchange-traded access to digital assets, and our ETP platform is designed precisely to meet that need."

"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," said Andrew Forson, President of DeFi Technologies and Chief Growth Officer of Valour. "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."

About B3 Exchange
B3 S.A. – Brasil, Bolsa, Balcão ("B3" or the "B3 Exchange") is the Brazilian stock exchange and one of the main financial market infrastructure companies in the world. Headquartered in São Paulo and listed on its Novo Mercado premium segment under the ticker B3SA3, B3 organizes and enables trading, clearing, settlement, registration and depository services across equities, derivatives and over-the-counter markets, as well as data and technology services. For more information please visit https://www.b3.com.br/en_us/ 

About DeFi Technologies
DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to one hundred of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the Company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit https://defi.tech/ 

DeFi Technologies Subsidiaries

About Valour
Valour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit https://valour.com.

About Stillman Digital
Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com

About Reflexivity Research
Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/ 

Cautionary note regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to proposed listing of Valour's ETPs and DeFi Technologies' BDRs on B3, the expected timing of listing and trading, future expansion plans into Brazil and other regions, and anticipated investor demand for digital asset ETPs; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of decentralised finance and digital asset sector; rules and regulations with respect to decentralised finance and digital assets; fluctuation in digital asset prices; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

 

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SOURCE DeFi Technologies Inc.

FAQ

What ETPs will DeFi Technologies (DEFT) list on B3 and when will trading start?

BTCV, ETHV, XRPV and VSUI will begin trading on B3 on December 17, 2025.

How will Valour's B3 listings for DEFT be denominated and settled?

The Valour ETPs will be BRL‑denominated and available via local brokerage and custody rails.

Why is listing on B3 significant for DeFi Technologies (DEFT)?

B3 provides a regional hub and local market access in Latin America, marking Valour’s first major listing outside Europe.

Will DeFi Technologies (DEFT) celebrate the B3 listing with an event?

Yes — a bell‑ringing ceremony is scheduled on the B3 floor in São Paulo on December 19, 2025.

How extensive is Valour’s existing ETP platform before the B3 listing?

Valour currently lists approximately 100 digital asset ETPs across major European exchanges.

What size of crypto activity supports Valour’s Brazil expansion for DEFT?

Brazil recorded an estimated US$318.8–319 billion in crypto transactions from July 2024 to June 2025.