Robinhood now lets users trade Bitcoin, Solana, and XRP micro futures with lower capital.
- Micro futures allow smaller investments in crypto trading.
- Robinhood expands futures beyond Bitcoin and Ether.
- Recent acquisitions boost Robinhood’s crypto services.
New Crypto Futures Available on Robinhood
Robinhood has introduced micro futures contracts for Bitcoin (BTC), Solana (SOL), and XRP. These contracts let people trade crypto with less money upfront than regular futures. The new feature is now available in the United States. It expands on Robinhood’s previous futures products, which only included Bitcoin and Ether (ETH).
What Are Micro Futures Contracts?
Micro futures are smaller versions of standard futures. They allow traders to bet on whether a coin’s price will go up or down without needing a lot of money. This makes it easier for more people to take part in crypto trading.
These new contracts are ideal for newer traders or those with smaller portfolios. They lower the financial barriers to enter the futures market. By offering this, Robinhood hopes to attract more users to its platform.
Robinhood’s Growing Crypto Services
Robinhood already supports spot trading for several cryptocurrencies. It started this business back in 2018. In January, the company launched its first crypto futures for Bitcoin and Ether. Now, it’s expanding to include more coins and trading options.
This move is part of a wider push by Robinhood to become a major player in crypto. The company has over 25 million funded accounts. Offering more tools for traders fits into their growth plan.
Major Acquisitions Boost Expansion
In June, Robinhood completed a $200 million acquisition of Bitstamp, a global crypto exchange. This deal gave them access to over 50 crypto-related licenses and registrations worldwide.
In May, Robinhood also bought Canadian company WonderFi for $179 million. WonderFi owns platforms like Bitbuy and Coinsquare. These platforms handle billions of dollars in user assets. Both deals help Robinhood expand its crypto reach and offer new services.
Industry Mergers Grow Amid Tough Conditions
Robinhood’s deals follow a trend in the crypto industry. Many companies are merging or getting acquired due to tough market conditions. For example, Coinbase bought Deribit for $2.9 billion, and Ripple acquired Hidden Road for $1.25 billion.
Experts say this shows how the industry is changing. Smaller companies are being bought, while bigger firms try to grow through mergers.
Source: cointelegraph.com
