Vlad Tenev, CEO of the investment app Robinhood, said that the firm will begin offering spot bitcoin exchange-traded funds as quickly as it can.
The statement came right after the Securities and Exchange Commission announced the approval of spot bitcoin ETFs for the first time. Now, 11 spot bitcoin ETFs will be start trading as soon as tomorrow.
“Exciting update from Washington today! As a pioneer in offering spot crypto trading, Robinhood is thrilled about the SEC’s decision to approve spot Bitcoin ETFs,” Tenev wrote on the social media platform X.”
“We’ve been ahead of the curve in crypto access, and we plan to list these ETFs on Robinhood as soon as possible,” Tenev added. “This milestone enhances the integration of cryptocurrencies with traditional finance. It not only offers clarity but also opens avenues for sophisticated risk management tools that benefit our customers in managing their digital asset investments.”
Risk management strategies
Tenev said that Robinhood has educational materials on bitcoin, ETFs and risk management strategies.
Robinhood, which offers cryptocurrency trading on its platform, said last month that volumes had surged amid an ongoing rally.
The 11 tradable spot bitcoin ETFs approved on Wednesday include funds from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin Templeton.
Read the full article here
