Robinhood Introduces Bitcoin and Ethereum Futures Trading for Experienced Investors

Robinhood is broadening its trading products to encompass Bitcoin and Ethereum, targeting skilled traders for expansion.

The extended range includes Bitcoin contracts, micro Bitcoin futures, Friday Bitcoin futures, together with Ethereum futures, and micro Ethereum futures.

A Robinhood representative mentioned in conversation with Decrypt that they anticipate the integration of these futures into the app within the upcoming months.

The unveil of Robinhood’s fresh desktop interface, dubbed Robinhood Legend, coincided with these announcements at the first-ever customer conference, HOOD Summit.

Robinhood’s Cryptocurrency Revenues Climb by 161% to Reach $81M, Outstripping its Stock Earnings

In the second quarter, Robinhood’s revenue from cryptocurrency transactions stood at $81 million, while revenue from stock transactions were at $40 million.

This premier platform is perfected for stringent traders, furnishing them with advanced features and real-time metrics, including direct access to futures and index options trading within the app.

JB Mackenzie, the vice president and general manager of Futures and International at Robinhood, claimed, “With competitively low fees and a sophisticated mobile platform, no other venue comes close when it comes to futures trading.”

Robinhood Gold subscribers are charged merely $0.50 per futures contract, whereas non-Gold members incur a $0.75 fee, offering a price advantage over conventional brokerage firms.

Steve Quirk, Robinhood’s chief brokerage officer, stated, “We’ve listened to active traders articulate their frustrations with older platforms. The hassle of alternating between applications or graphing software is sluggish and inconvenient. Our mission was to redefine the standards for a high-performance, user-friendly active trading platform.”

In a recent update, Robinhood Crypto, the company’s cryptocurrency division, disclosed the forthcoming capability for its European patrons to execute crypto transfers.

Robinhood Initiates Cryptocurrency Transfers across Europe

Robinhood Crypto, which debuted in Europe during December 2023, will soon facilitate its customers to transact cryptocurrencies out to self-custodial wallets or to alternate platforms.

Previously, upon its launch in the EU, Robinhood permitted trading in cryptocurrencies but did not provide the option for users to transfer their holdings to external wallets or platforms.