New UFC flyweight champion Silva opens as underdog against returning Shevchenko

Natalia Silva is the new UFC women’s flyweight champion, but the oddsmakers are not yet convinced she is the division’s best fighter. Hours after Silva defeated Cong Wang via unanimous decision in the UFC 332 main event on Saturday in Salt Lake City, early lines emerged casting the Brazilian as a +165 underdog against two-time former champion Valentina Shevchenko (-190).

Shevchenko vacated the 125-pound title because of injury, leaving the belt vacant for Silva and Wang to contest. The Brazilian wasted no time staking her claim, winning all three judges’ scorecards in dominant fashion. Yet the numbers reflect the enduring respect Shevchenko commands in the division, despite her absence from the title picture.

“Bullet” made her intentions clear on social media shortly after the result was confirmed. “Well deserved, Natalia! Congratulations!” Shevchenko posted on X. “It’s my pleasure to know that UFC Champion’s belt is now holding deserving martial artist — such as you are! But don’t get too comfortable — keep it warm, I’m coming soon for my belt!”

Silva does hold a more comfortable position in the other potential matchup on the board. Against former champion Alexa Grasso (18-5-1), she is listed as a -300 favourite with Grasso at +250 — odds that closely mirror how their first meeting unfolded. All three judges scored that bout 30-27 in Silva’s favour at UFC 315 in May 2025.

Grasso has not been idle since that defeat, stringing together back-to-back wins over Maycee Barber and Manon Fiorot to keep herself in contention for a rematch. Whether Silva faces Grasso or Shevchenko next, the new champion enters her first title defence with a target firmly on her back from two of the most decorated fighters in flyweight history.