Retail buying and selling large Robinhood has listed the newly authorized spot Bitcoin (BTC) exchange-traded funds (ETFs).
The 11 greenlit BTC ETFs grew to become obtainable to the corporate’s prospects on Thursday morning in each retirement and brokerage accounts by Robinhood Monetary, in keeping with a brand new press launch.
Robinhood chief government Vlad Tenev says the brand new Bitcoin monetary merchandise assist combine crypto and conventional finance.
“It not solely gives readability but additionally opens avenues for classy danger administration instruments that profit our prospects in managing their digital asset investments.
Our ethos is ‘participation is energy’. To empower our customers, Robinhood gives academic supplies on Bitcoin, ETFs, and danger administration methods. We provide various funding choices by Robinhood Monetary and cutting-edge crypto buying and selling by way of Robinhood Crypto.
Our purpose stays to ship the most secure, most cost-effective, and reliable crypto expertise in 2024. Keep tuned for extra developments as we proceed to bridge the hole between crypto and conventional monetary techniques.”
On Wednesday, the SEC greenlit all 11 spot Bitcoin ETFs that have been into account, together with BlackRock, Constancy, Grayscale, VanEck, Bitwise, Franklin, Valkyrie, Hashdex, Ark Make investments, WisdomTree and Invesco Galaxy.
Bitcoin ETF candidates labored with the SEC for months to refine their proposals. The regulator authorized the launch of the nation’s first Bitcoin futures ETFs in October 2021 however had denied all spot Bitcoin ETF functions till this week.
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