tl;dr
Robinhood is expanding into the futures market by adding Bitcoin and Ethereum alongside oil and the S&P 500 index to attract seasoned traders. The futures offerings, expected in the "coming months," will include Bitcoin contracts, micro Bitcoin futures, Bitcoin Friday futures, Ethereum futures, and ...
Robinhood is expanding into the futures market by including Bitcoin and Ethereum alongside oil and the S&P 500 index, aiming to attract seasoned traders. The futures offerings are expected in the "coming months" and will feature Bitcoin contracts, micro Bitcoin futures, Bitcoin Friday futures, Ethereum futures, and micro Ethereum futures. This expansion is part of Robinhood's strategy to compete with established players in a heating crypto market.
The introduction of Robinhood Legend, a desktop platform tailored for active traders, will provide advanced tools and real-time data, enabling trading of futures and index options directly from the app. Gold subscribers can trade futures for as low as $0.50 per contract, with non-Gold users paying $0.75, undercutting traditional brokerages. The platform is set to support futures and index options trading as it continues rolling out through 2024, positioning Robinhood as an attractive option for cryptocurrency traders seeking more sophisticated exposure to assets like Bitcoin.
Furthermore, Robinhood Legend will offer advanced charting tools, customizable layouts, and real-time data, catering to the frustration with legacy offerings expressed by active traders. This move signifies a shift in the landscape, with Robinhood aiming to reimagine what a modern, intuitively designed active trading platform should look like.