Bitcoin, XRP, SOL futures launch on Robinhood

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Robinhood continues to grow its crypto services offering with micro futures contracts connected starring assets.

Bitcoin, XRP, SOL futures motorboat connected Robinhood

Digital brokerage Robinhood has launched micro futures contracts for Bitcoin (BTC), Solana (SOL), and XRP (XRP), giving crypto traders the quality to commercialized derivatives with importantly little superior requirements.

The caller offering was officially unveiled successful the United States connected Friday, expanding connected Robinhood’s existing crypto futures products for Bitcoin and Ether (ETH).

Micro futures contracts are smaller versions of modular futures contracts, allowing traders to speculate connected an asset’s terms movements with a overmuch little upfront investment.

Robinhood, which has much than 25 cardinal funded lawsuit accounts, announced its entry into crypto futures successful January. At the time, the institution said the rollout would initially beryllium constricted to Bitcoin and Ether.

However, Robinhood’s enlargement into spot cryptocurrency trading began successful 2018. Since then, its footprint successful the assemblage has expanded.

Robinhood expands crypto offerings done large acquisitions

One mode Robinhood has strengthened its crypto offerings is done strategical acquisitions of large players successful the space.

Earlier successful June, the institution announced it had completed a $200 cardinal acquisition of crypto speech Bitstamp, and with it, secured much than 50 licenses and registrations worldwide successful the process.

In May, Robinhood besides acquired WonderFi — a Canadian institution that operates regulated crypto trading platforms — for $179 million. WonderFi owns Bitbuy and Coinsquare, collectively managing billions of dollars successful lawsuit assets.

These deals bespeak the increasing M&A enactment successful the crypto sector, highlighted by blockbuster transactions similar Coinbase’s $2.9 cardinal acquisition of Deribit and Ripple’s $1.25 cardinal takeover of premier broker Hidden Road.

Large M&A deals item a increasing consolidation inclination successful the crypto industry, with respective companies struggling with challenging macroeconomic conditions and jittery markets, according to Santora lending caput Patrick Heusser.

These factors are partially liable for the notable downturn successful crypto task superior deals, with lone 62 deals completed successful May, according to RootData.

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