Robinhood Expands Crypto Services With Micro Futures on Bitcoin, Solana & XRP
Robinhood has launched micro futures contracts for Bitcoin (BTC), Solana (SOL), and XRP (XRP), allowing crypto traders to engage in derivatives trading with lower capital requirements. This new offering expands on existing futures products for Bitcoin and Ether (ETH) and was unveiled in the U.S. The micro futures contracts enable speculation on asset price movements with reduced upfront investment. Robinhood, which has over 25 million funded customer accounts, initially entered the crypto futures market in January, focusing on Bitcoin and Ether. The company has also strengthened its crypto offerings through strategic acquisitions, including a $200 million purchase of crypto exchange Bitstamp and a $179 million acquisition of Canadian regulated trading platform WonderFi. These acquisitions reflect a trend of consolidation in the crypto industry amid challenging macroeconomic conditions, contributing to a decline in crypto venture capital deals, with only 62 completed in May.
