All 11 Spot Bitcoin ETFs Are Available for Trading on Robinhood

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Last Updated on January 12, 2024 by Bitfinsider

The company, Robinhood states that you can now trade any approved exchange-traded fund on the platform. An additional perk provided by the site is a 1% incentive for users who move their brokerage account to Robinhood.

Vlad Tenev, the CEO of the business, had earlier stated that Robinhood would list all 11 of the top Bitcoin ETFs “as soon as possible.” The incorporation of cryptocurrency assets into TradFi is made easier by this method. Tenev adds that spot Bitcoin ETFs offer fresh chances to develop advanced risk management instruments that assist investors.

Spokespeople for financial giant Citigroup and UBS Bank have revealed intentions to give their customers access to spot Bitcoin ETFs.

Eleven applications for spot exchange-traded funds based on the original Bitcoin have been authorized by the SEC. Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity, and Franklin Templeton are among the issuers that qualify. The SEC made Chairman Gary Gensler’s speech available along with the approval order. He acknowledged the department’s choice but cautioned about the dangers.

Forms 19b-4 are covered by the approval order; nevertheless, issuers need further S-1 approval before they can launch on the markets. These documents are currently being examined by the Commission, most likely in time for the auction to begin.

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