Retail trading giant Robinhood has listed the newly approved spot Bitcoin (BTC) exchange-traded funds (ETFs).
The 11 greenlit BTC ETFs became available to the company’s customers on Thursday morning in both retirement and brokerage accounts through Robinhood Financial, according to a new press release.
Robinhood chief executive Vlad Tenev says the new Bitcoin financial products help integrate crypto and 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.
Our ethos is ‘participation is power’. To empower our users, Robinhood provides educational materials on Bitcoin, ETFs, and risk management strategies. We offer diverse investment options through Robinhood Financial and cutting-edge crypto trading via Robinhood Crypto.
Our goal remains to deliver the safest, most cost-effective, and trustworthy crypto experience in 2024. Stay tuned for more advancements as we continue to bridge the gap between crypto and traditional financial systems.”
On Wednesday, the SEC greenlit all 11 spot Bitcoin ETFs that were under consideration, including BlackRock, Fidelity, Grayscale, VanEck, Bitwise, Franklin, Valkyrie, Hashdex, Ark Invest, WisdomTree and Invesco Galaxy.
Bitcoin ETF applicants worked with the SEC for months to refine their proposals. The regulator approved the launch of the country’s first Bitcoin futures ETFs in October 2021 but had denied all spot Bitcoin ETF applications until this week.
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