Markets
Robinhood Considers Listing Cryptocurrency Futures in U.S., Europe
Cryptocurrency trading platform Robinhood is reportedly considering listing cryptocurrency futures contracts in the United States and Europe. The platform is reportedly looking to introduce futures trading “in the coming months,” according to a statement. Bloomberg report.
The company could choose to use the various licenses it acquired in its $200 million purchase of cryptocurrency exchange Bitstamp. The deal is expected to close next year and would allow the company to use the exchanges’ license to offer perpetual futures contracts for Bitcoin and other digital assets.
Latest News: Robinhood $HOOD plans to list cryptocurrency futures in the United States and Europe, Bloomberg reports.
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Robinhood Considers Listing Perpetual Futures Contracts in U.S., Europe
Robinhood may be looking to expand, as reports suggest the company has considered listing cryptocurrency futures in the US and Europe. The plans have not yet been made public, but anonymous sources have expressed the company’s interest in launching CME-based futures for BTC and Ethereum.
“We have no imminent plans to launch these offerings,” a spokesperson told Bloomberg. He assured that discussions were still ongoing. The report also noted that the plan could potentially change.
The cryptocurrency trading platform received a Wells Notice from the SEC earlier this year. However, that hasn’t stopped its commitment to the cryptocurrency market. The company is expanding internationally. In the meantime, Robinhood Crypto is already available in 50 US states, the Virgin Islands, and Puerto Rico.
Read also : Will Robinhood’s Bitstamp Acquisition Help Overcome SEC Hurdles?
In July, the company’s trading services officially allowed trading of 15 assets, including Bitcoin, ETH, Dogecoin, and Avalanche, across all U.S. territories. Still, the company reported a decline in its cryptocurrency trading. The app recorded $7.1 billion in trades. However, this is a 30% decline from April’s $10.1 billion.
Demand for futures contracts has only increased since spot Bitcoin ETFs were approved in January, with crypto derivatives trading volumes reaching $3.69 trillion. This is well above the centralized spot trading volumes of $1.57 trillion.