Stock trading and investing platform Robinhood has confirmed plans to support Bitcoin and Ethereum futures amid the wider launch of its new desktop platform and derivatives products announced at the HOOD Summit conference on Wednesday.
“You asked and we delivered. We launched futures trading directly in the Robinhood app, allowing customers to trade the S&P 500, oil, Bitcoin and more,” Robinhood said in a statement.
Bloomberg reported last July.Robinhood wanted to launch CME-based Bitcoin and Ethereum futures in the U.S. and would use Bitstamp’s license to offer perpetual futures, according to people familiar with the matter. bitcoin BTC
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And other cryptocurrencies in Europe.
But a Robinhood spokesperson said there were “no imminent plans” to launch such a product at the time. Robinhood previously announced its intention to acquire cryptocurrency exchange Bitstamp in a deal potentially worth $200 million.
Bitcoin and Ethereum futures products will be launched to customers in the coming months, the company said Wednesday.
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Robinhood already offers access to Bitcoin and Ethereum 
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ETFs and cryptocurrencies in the United States can also be purchased directly through the Robinhood Crypto arm.
Robinhood appears to be planning to expand its cryptocurrency business, despite the company receiving a Wells notice from the SEC in early May. The company is also reportedly considering launching a stablecoin, although a spokesperson said there are “no imminent plans.”
Robinhood Launches Legend Desktop Trading App
In addition to the new futures product, the company announced the launch of a new “Robinhood Legend” desktop trading application designed for active traders who want a fully customizable platform and index options.
“Through Robinhood Legend, futures and index options, we help our customers take control of their financial future by leveraging the full power of the markets,” said Vlad Tenev, Robinhood Chairman and CEO.
Following this news, Robinhood shares are currently trading at $27.69, up 2.8% in pre-market trading, according to TradingView. HOOD has gained over 111% year to date.
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