Robinhood, a digital brokerage firm has introduced micro-futures contracts for Bitcoin.BTC), Solana (SOLIt is a cryptocurrency (XRP) that allows you to buy and sell cryptocurrencies.XRPCrypto traders can now trade derivatives at a significantly reduced capital requirement.
Robinhood’s crypto-futures products, which include Bitcoin and Ether, were officially launched on Friday in the United States.ETH).
Micro-futures contracts are smaller than standard contracts. They allow traders to bet on price fluctuations of assets with much less upfront capital.
Robinhood announced that it has 25 million customers with funded accounts. entry into crypto futures in January. The company had said at the time that the initial rollout was limited to Bitcoin or Ether.
Robinhood began its expansion in spot crypto trading only in 2018. The company’s presence in this sector has increased since.
Related: US futures hit record high, setting Bitcoin up for new peak: Analysts
Robinhood increases its crypto offering through acquisitions
Robinhood’s crypto offering has been strengthened by strategic acquisitions.
In June the company reported that they had finished a $200 million acquisition of crypto exchange BitstampWith it, we secured over 50 licenses, registrations, and certifications around the world.
This May Robinhood also acquired WonderFi — a Canadian company that operates regulated crypto trading platforms — for $179 million. WonderFi is the owner of Bitbuy and Coinsquare. Together, they manage billions in assets for customers.
These deals reflect the growing M&A activity in the crypto sector, highlighted by blockbuster transactions like Coinbase’s $2.9 billion acquisition of Deribit Ripple is worth $1.25 Billion takeover of prime broker Hidden Road.
Large M&A deals highlight a growing consolidation trend in the crypto industry, with several companies struggling with challenging macroeconomic conditions and jittery markets, according to Santora lending head Patrick Heusser.
The notable drop in the number of crypto venture capital investments in May was due to these factors. Only 62 transactions were concluded in that month. RootData.
Related: Crypto VC deals hit 2025 low despite $909M raised in May
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
