Retail giant Robinhood has listed the newly approved spot Bitcoin (BTC) exchange-traded funds (ETFs).
The 11 green-lit BTC ETFs became available to the company’s customers in both retirement and investment accounts through Robinhood Financial on Thursday morning, according to a new press release.
Robinhood CEO Vlad Tenev say Bitcoin’s new financial products help integrate crypto and traditional finance.
“It not only provides clarity, but also opens up opportunities for advanced risk management tools that will benefit our clients in managing their digital asset investments.
Our motto is: ‘participation is power’. To empower our users, Robinhood offers educational materials on Bitcoin, ETFs, and risk management strategies. We offer various investment options through Robinhood Financial and advanced crypto trading through Robinhood Crypto.
Our goal remains to provide the safest, most cost-effective and reliable crypto experience by 2024. Stay tuned for more progress as we continue to bridge the gap between crypto and traditional financial systems.”
On Wednesday, the SEC gave the green light to all 11 spot Bitcoin ETFs under consideration, including BlackRock, Fidelity, Grayscale, VanEck, Bitwise, Franklin, Valkyrie, Hashdex, Ark Invest, WisdomTree and Invesco Galaxy.
Bitcoin ETF applicants have been working 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 rejected all spot Bitcoin ETF applications until this week.
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