On Thursday, Robinhood Inc confirmed that it has included all 11 approved spot Bitcoin exchange-traded funds (ETFs) for its customers. These ETFs are now accessible through both retirement and standard brokerage accounts.
The move comes after the SEC’s approval on January 10, making these ETFs tradable across the United States in different types of accounts.
Robinhood Embraces Bitcoin ETFs with CEO and General Manager Support
Johann Kerbrat, the General Manager of Robinhood Crypto, expressed the platform’s positive stance on increased access to Bitcoin via ETFs in a recent post. Emphasizing crypto as the future’s financial framework, Kerbrat believes that broader access to Bitcoin through ETFs is a positive development for the industry.
On Wednesday, Robinhood’s CEO Vlad Tenev referred to the SEC’s approval of spot bitcoin ETFs as a significant “milestone.” Tenev sees this regulatory action as opening doors to enhanced risk management opportunities for clients engaged in cryptocurrency investments.
Exciting update from Washington today! As a pioneer in offering spot crypto trading, Robinhood is thrilled about the @SECGov's decision to approve spot Bitcoin ETFs. We've been ahead of the curve in crypto access, and we plan to list these ETFs on @Robinhoodapp as soon as…
— Vlad Tenev (@vladtenev) January 10, 2024
The SEC-approved spot bitcoin ETFs include offerings from notable financial entities like Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity, and Franklin Templeton. This approval marks a crucial step in providing investors with diversified and regulated avenues for Bitcoin investment within the United States.
Why Robinhood Adding Bitcoin ETFs is Important?
The inclusion of Bitcoin ETFs on Robinhood holds substantial importance as it provides clients with the opportunity to trade these ETFs akin to traditional stocks or ETFs.
Johann Kerbrat, Robinhood Crypto’s General Manager, emphasized the flexibility offered to customers. In addition to trading Bitcoin ETFs, clients who prefer direct ownership of Bitcoin can choose to buy it through Robinhood Crypto. This alternative ensures clients receive competitive pricing and have the freedom to transfer funds in and out as eligibility allows. The dual approach caters to varying preferences among Robinhood users, offering a range of options for engaging with the cryptocurrency market.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
