Robinhood Unveils Bitcoin and Ethereum Futures Trading

Robinhood has launched Bitcoin and Ethereum futures trading, along with its new desktop platform, ‘Legend,’ enhancing trading capabilities for users.

This announcement was made during the HOOD Summit, where the company also introduced promotional offers for users transferring assets from other brokerages.

The platform will allow futures trading on assets like Bitcoin and the S&P 500 through a user-friendly app interface.

JB Mackenzie emphasized low fees and efficient trading, while Vlad Tenev, CEO, sees these features boosting market participation, similar to the 2021 surge.

In Europe, Robinhood has introduced crypto transfers for over 20 currencies, offering a 1% yield on deposits, although XRP is excluded.

Following the announcements, Robinhood’s stock rose slightly, closing at $26.93, with Bernstein projecting operating income could reach $900 million this year and revenues of $3.4 billion next year, suggesting a market cap between $19 billion and $23 billion.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.