Robinhood, the renowned trading platform, has recently confirmed its intention to expand its offerings by introducing Bitcoin and Ethereum derivatives, as part of a broader strategy to launch advanced trading tools. This announcement comes after last summer’s rumors, when the firm did not yet have a concrete plan for cryptocurrency futures in the United States.
During the HOOD Summit conference on Wednesday, Robinhood unveiled its project to offer BTC and ETH futures, a significant evolution of its financial product portfolio. This initiative marks a turning point in Robinhood’s strategy, as it seeks to diversify its services for investors looking to enter the cryptocurrency market through derivatives.
This expansion is not limited to the United States. In July, Bloomberg had already reported Robinhood’s ambitions to launch CME-based futures for Bitcoin and Ethereum in the US, while exploring options for perpetual futures on these cryptocurrencies in Europe. The licensing provider in Europe would be Bitstamp, a crypto platform already in partnership with Robinhood for a potential $200 million acquisition.
Robinhood is no stranger to the crypto ecosystem. The platform already allows direct investment in cryptocurrencies through Robinhood Crypto and offers ETFs linked to Bitcoin and Ether. Despite warnings from the SEC last May, including a Wells notice received by its crypto division, Robinhood seems determined to continue expanding its presence in this sector.
Robinhood Legend: A New Platform for Active Traders
In parallel, Robinhood has announced the rollout of Robinhood Legend, a new desktop application specifically designed for active traders looking to customize their platform and access options on indices. With this new offering, Robinhood caters to investors who want to fully leverage the potential of the financial markets while managing more complex products such as index options and futures.
Vlad Tenev, President, and CEO of Robinhood, emphasized: “With Robinhood Legend, futures and options on indices, we help our clients harness the full power of the markets so they can take control of their financial future.”
