Robinhood has announced plans to expand into bitcoin and ether futures trading, as part of a broader effort to roll out more derivatives products and a new desktop platform.
The platform revealed that soon, users will be able to trade futures directly within its app, including those based on the S&P 500, oil, bitcoin, and other assets. This move, announced at the HOOD Summit, marks a significant step forward in Robinhood’s crypto and derivatives offerings.
As previously reported the company was leveraging Bitstamp’s licenses to get ready to offer CME-based bitcoin and ether futures in the U.S. and perpetual futures for Bitcoin and other cryptocurrencies in Europe. However, Robinhood had stated at the time that there were no immediate plans for these offerings.
Now, it has been confirmed that Bitcoin Futures, Micro Bitcoin Futures, Bitcoin Friday Futures, Ether Futures, and Micro Ether Futures will become available to customers over the next few months via the CME.
This expansion is significant as Robinhood already offers access to Bitcoin and Ethereum ETFs in the U.S., and users can directly purchase these cryptocurrencies through its Robinhood Crypto division. The move to support futures trading comes despite regulatory challenges, including a Wells notice from the SEC in early May regarding its crypto unit.
Additionally, Robinhood is reportedly considering launching its own stablecoin, though the company has clarified that there are no imminent plans for such a product.
Alongside the futures products, Robinhood unveiled its new “Robinhood Legend” desktop trading app, aimed at active traders who require a highly customizable platform with index options.
According to Robinhood CEO Vlad Tenev, the new application and the expanded futures offerings are designed to empower customers to take greater control of their financial strategies.
Also Read: Robinhood Debuts Crypto Transfers in Europe for Expansion
