Robinhood has launched new micro futures for XRP and Solana, available for trading with lower capital requirements.
What are Micro Futures?
Micro futures are smaller contracts that allow retail and smaller-scale investors to speculate on price movements of assets, such as currencies, commodities, or stock indices. They require lower capital and carry less risk compared to standard futures.
Expansion of Robinhood's Crypto Services
Robinhood previously offered standard futures for XRP and Solana. The new micro futures are simplified versions of standard contracts provided by the CME Group. The micro futures for XRP represent 2,500 XRP per contract, which was around $5,200 at the time of publication.
Comparison with Market Competitors
With the expansion of its crypto offerings, Robinhood faces competition from firms like Charles Schwab and Morgan Stanley’s E*TRADE, which already provide crypto futures. Notably, several derivatives platforms are expanding their offerings under the new crypto-friendly administration in the U.S.
The launch of micro futures for XRP and Solana underscores Robinhood's commitment to expanding its crypto capabilities, attracting both small and large traders.
