It has been reported that Robinhood, the retail trading giant, has just listed the spot BTC ETFs that have been newly approved. Check out the latest reports about this below.
Robinhood lists new spot BTC ETFs
Robinhood, the retail trading giant, has recently added the newly approved Bitcoin (BTC) exchange-traded funds (ETFs) to its platform.
The company’s customers can now access the 11 BTC ETFs through both retirement and brokerage accounts via Robinhood Financial.
According to a recent press release, Robinhood’s CEO, Vlad Tenev, believes that these new Bitcoin financial products will help bridge the gap between traditional finance and cryptocurrencies.
“It not only offers clarity but also opens avenues for sophisticated risk management tools that benefit our customers in managing their digital asset investments.
Our ethos is ‘participation is power’. To empower our users, Robinhood provides educational materials on Bitcoin, ETFs, and risk management strategies. We offer diverse investment options through Robinhood Financial and cutting-edge crypto trading via Robinhood Crypto.
Our goal remains to deliver the safest, most cost-effective, and trustworthy crypto experience in 2024. Stay tuned for more advancements as we continue to bridge the gap between crypto and traditional financial systems.”
The US Securities and Exchange Commission (SEC) has granted approval to all 11 spot Bitcoin ETFs that were under consideration.
The approved ETFs include those proposed by BlackRock, Fidelity, Grayscale, VanEck, Bitwise, Franklin, Valkyrie, Hashdex, Ark Invest, WisdomTree and Invesco Galaxy. These companies have been working with the SEC for months to refine their proposals.
It is worth noting that the regulator had approved the launch of the country’s first Bitcoin futures ETFs in October 2021. However, until now, the SEC had denied all spot Bitcoin ETF applications.
There has been a lot of fuss in the crypto space regarding the BTC ETFs and the hype is definitely still here. So stay tuned for more news.
