Robinhood Adds New Spot Bitcoin ETFs
The new class of spot Bitcoin ETFs that were approved by the SEC yesterday are now available on Robinhood
Earlier today, Robinhood started offering the new class of spot Bitcoin ETFs that were approved by the SEC on January 10. These 11 ETFs became tradable to all customers in the United States this morning in both retirement and brokerage accounts though Robinhood Financial.
Customers can elect to buy or sell Bitcoin ETFs just as they would any other ETF or stock. Customers can also still choose to purchase Bitcoin directly through Robinhood Crypto, which offers the lowest cost to trade crypto on average.*
“Providing expanded access to the financial markets and increasing customer choice are at the core of Robinhood’s mission, which is why we’re excited to add support for various Bitcoin ETFs in both retirement and brokerage accounts,” said Steve Quirk, Chief Brokerage Officer at Robinhood. “With Robinhood customers can trade stocks, ETFs, and crypto on their own time and their terms, with no commissions and 24/7 support.”
“We believe crypto is the financial framework of the future and that increased access to Bitcoin via ETFs is a good thing for the industry,” said Johann Kerbrat, GM of Robinhood Crypto. “In addition to offering Bitcoin ETFs, customers who prefer to own Bitcoin themselves can elect to buy it directly through Robinhood Crypto, where they will receive the lowest cost on average and can transfer funds in and out as they wish, if eligible.”
For more information about ETFs in general, visit our Help Center.
Disclosures:
*The statements above are based on research that was conducted and verified by an independent third party based on quotes for the respective cryptocurrency on the trading platforms shown on 10/6/23. Past amount of cryptocurrency shown in such quotes is not a guarantee of future results. The amount of cryptocurrency quoted may fluctuate based on market conditions and volatility and the actual amount received may at all times be more or less than the amounts shown.
All investments involve risk and loss of principal is possible. Bitcoin and Spot Bitcoin ETFs are relatively new investments. Digital assets, including Bitcoin, are subject to unique and substantial risks, and historically, have been subject to significant price volatility. The value of an investment in digital assets could decline significantly and without warning, including to zero. Investors should be prepared to lose their entire investment. Bitcoin ETFs do not represent direct ownership of Bitcoin and are subject to fund management fees. Performance of Bitcoin ETFs may differ significantly from the performance of bitcoin. Consider your investment objectives and read the prospectus prior to investing in Bitcoin ETFs.
ETFs are offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.
Cryptocurrency trading is offered through an account with Robinhood Crypto, LLC (NMLS ID: 1702840). Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Please review a list of our licenses for more information.
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