Robinhood Lists 11 Bitcoin Spot ETFs
Robinhood, the brokerage firm, has announced the listing of 11 Bitcoin spot ETFs for retirement and brokerage accounts. Johann Kerbrat, the CEO of Robinhood Crypto, highlights the increased access to Bitcoin ETFs as beneficial for the industry. On their first day, the Bitcoin Spot ETFs recorded a record volume.
The 11 Bitcoin Spot ETFs Listed on Robinhood
American investment app Robinhood has recently integrated the 11 SEC-approved Bitcoin spot exchange-traded funds (ETFs) into its offering, making these financial instruments accessible to users with retirement and brokerage accounts.
The integration of Bitcoin spot ETFs by Robinhood has been praised by Johann Kerbrat, CEO of Robinhood Crypto, as a positive development for the cryptocurrency industry.
“We believe that cryptocurrency is the financial framework of the future and that increased access to Bitcoin via ETFs is a good thing for the industry,” said Johann Kerbrat, CEO of Robinhood Crypto.
– Johann Kerbrat, CEO of Robinhood Crypto
Robinhood CEO Describes SEC’s Decision as “Historic”
This move is seen by many experts and institutions as an important step towards wider adoption of cryptocurrencies, by facilitating exposure to Bitcoin through more traditional investment products.
On the other hand, Robinhood CEO Vlad Tenev has emphasized the importance of the SEC’s decision, considering it a major milestone for better risk management of crypto investments for their clients. However, players like Vanguard remain hesitant, considering these ETFs as highly speculative and not aligned with their long-term investment philosophy.
Less than 24 hours after their listing, Bitcoin spot ETFs recorded a trading volume exceeding $4.5 billion. In addition, many experts expect to see between $50 and $100 billion in inflows during the first few weeks.