Robinhood, the well-known trading platform, announced an expansion of its product offerings by including Bitcoin and Ethereum futures. This move is aimed at attracting experienced traders with advanced tools and options.
Robinhood's New Futures Products
Robinhood plans to offer Bitcoin contracts, micro Bitcoin futures, Ethereum futures, and micro Ethereum futures. These products are designed to make futures trading more accessible for retail and smaller-scale investors. The announcement was made at Robinhood's first customer conference, the HOOD Summit, where the company also unveiled its new desktop platform, Robinhood Legend, specifically designed for active traders.
Competitive Pricing
Robinhood enters the futures market with some of the lowest fees available. For Gold subscribers, the cost to trade futures is just $0.50 per contract, while non-Gold users will pay $0.75. This pricing strategy aims to attract cryptocurrency traders seeking more sophisticated options for assets like Bitcoin and Ethereum.
Expanding Crypto Services
This move into futures trading aligns with Robinhood's broader strategy to enhance its cryptocurrency services. Recently, Robinhood Crypto announced it would allow crypto transfers for its European customers, enabling withdrawals to self-custodial wallets or third-party platforms.
With the introduction of Bitcoin and Ethereum futures, alongside the launch of Robinhood Legend, the platform is positioning itself as a strong competitor in the trading industry, especially as the cryptocurrency market evolves.
