Robinhood To Launch Bitcoin and Ethereum Futures Products

Robinhood has unveiled plans to launch Bitcoin and Ethereum futures products to expand its offerings for users

Robinhood, the commission-free trading platform, is set to widen its reach in the crypto world. The company recently confirmed plans to support Bitcoin (BTC) and Ethereum futures with other derivatives products. This move is part of a bigger plan to improve its services for its crypto customers.

Robinhood Introduces Futures Trading

At its recent HOOD Summit, Robinhood announced the launch of futures trading within its app. 

Users will soon be able to trade futures on popular assets like Bitcoin, the S&P 500, oil, and more. Robinhood responded directly to user demand with these features, promising new opportunities for users eager to venture into the futures market.

In July, reports hinted at Robinhood’s plan to offer Bitcoin and Ethereum futures based on CME standards. Initially, the company said it had no plans for the project, but it has now confirmed that these products will roll out soon.

Additionally, Robinhood intends to use Bitstamp’s licenses to offer perpetual futures for Bitcoin and other cryptocurrencies in Europe. This strategic step further demonstrates the firm’s ambition to strengthen its foothold in the global crypto market.

Despite facing regulatory challenges from the U.S. SEC, Robinhood remains committed to growing its crypto offerings. Rumors suggest Robinhood is also exploring the launch of a stablecoin. 

While speaking on a crypto podcast last month, Johann Kerbrat, Robinhood’s Crypto General Manager, confirmed that the company has not yet announced a launch. 

Robinhood Legend: A New Platform for Active Traders

Along with its future products, Robinhood also unveiled its new desktop platform, Robinhood Legend. 

This platform is built for active traders who want a simple, custom experience with full index options. Following the announcement, Robinhood’s stock (HOOD) saw a 2.8% increase in pre-market trading, reaching $27.69. 

The company’s stock has gained more than 111% year-to-date, reflecting growing confidence in its prospects.

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