Robinhood Unveils Bitcoin and Ethereum Futures Trading
18.10.2024 9:00 1 min. read Alexander Zdravkov
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.
[reaedmore id=”139976″]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.
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