Robinhood (HOOD) has introduced micro futures on bitcoin (BTC), solana (SOL) and XRP in the United States., expanding its existing crypto futures offering for its nearly 26 million funded accounts.
Micro contracts need far less collateral than full-size futures, letting traders take directional positions while committing a smaller slice of capital.
The contracts offer traders more flexibility to bet on a cryptocurrency’s future price direction or hedge current positions given their smaller size.
The launch rounds out a futures suite that began with BTC and ETH in January. It also comes weeks after the firm closed its $200 million purchase of Bitstamp and finalized a $179 million deal for Canada’s WonderFi.
Robinhood’s data shows that crypto notional volumes have exploded upward over time, reaching $11.7 billion in May. The figure marks a 36% rise month-over-month, and a 65% growth year-over-year.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin is down just 1.5% in its historically weakest month and remains on track for…
Bitcoin recovered from $75,972 overnight to just below $78,000, a third straight day of gains.Read…
The U.S. Treasury sanctioned BitBank, a Tehran exchange it says moved hundreds of millions of…
Corporate treasuries bought just 5,900 bitcoin in three months, while broader demand signals remain weak.Read…
Ether funds shed money for a third straight session even as the token rose, while…
The yen declined and BTC rose after the BOJ hiked rates to the highest level…