Bitcoin ETF

Bitcoin

Online fintech brokerage firm Robinhood is about to join the Bitcoin ETF craze, saying the ETF approval is a key factor in advancing the integration of crypto with traditional finance.
<a href="https://crypto.news/tag/robinhood/" target="_blank" rel="noopener noreferrer nofollow">Robinhood</a> CEO Vlad Tenev announced the company’s plans in a thread on X on Jan. 11, stating the broker aims to list all approved spot <a href="https://crypto.news/tag/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds “as soon as possible.”
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 Exciting update from Washington today! As a pioneer in offering spot crypto trading, Robinhood is thrilled about the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SECGov</a>'s decision to approve spot Bitcoin ETFs. We've been ahead of the curve in crypto access, and we plan to list these ETFs on <a href="https://twitter.com/RobinhoodApp?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Robinhoodapp</a> as soon as…— Vlad Tenev (@vladtenev) <a href="https://twitter.com/vladtenev/status/1745210232777932858?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 10, 2024</a>
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Although Tenev did not provide a specific timeframe, he emphasized that the approval of spot crypto ETFs not only brings clarity but also paves the way for sophisticated risk management tools.
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 “It [the approval] not only offers clarity but also opens avenues for sophisticated risk management tools that benefit our customers in managing their digital asset investments.”
 Vlad Tenev
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In addition to stocks, options, and cryptocurrencies, Robinhood also offers trading with exchange-traded funds (ETFs) such as Invesco Nasdaq-100 ETF, Vanguard Mega Cap Growth ETF, iShares U.S. Home Construction ETF, and many others.
You might also like: <a href="https://crypto.news/bitwise-to-donate-10-of-bitcoin-etf-profits-to-support-open-source-development/" rel="noopener noreferrer nofollow"> Bitwise to donate 10% of Bitcoin ETF profits to support open-source development </a>
Analysts anticipate that the approval of a Bitcoin exchange-traded fund, serving as a means for investors to buy the cryptocurrency through traditional brokerage accounts, could be advantageous for Robinhood.
Dan Dolev, a senior analyst at Mizuho Securities, <a href="https://fortune.com/crypto/2023/12/22/robinhood-crypto-vlad-tenev-johann-kerbat-eu-expansion-crypto-business-lookback/" target="_blank" rel="noopener noreferrer nofollow">said</a> in December 2023 that the approval could be particularly beneficial for Robinhood, given that its primary revenue sources come from stock trading. Competing exchanges may see reduced volumes as users opt to transact Bitcoin directly on platforms like Robinhood, the analyst emphasized.
With the recent <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="noopener noreferrer nofollow">approval</a> of spot Bitcoin ETFs, attention is now turning to the upcoming <a href="https://crypto.news/tag/bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin halving</a>, which is expected to occur in April, and the inflows into traditional finance investment vehicles linked to BTC. While financial giants like JPMorgan anticipate a gradual increase in capital interest, crypto-focused entities such as Mike Novogratz’s Galaxy Digital <a href="https://crypto.news/jpmorgan-bitcoin-etfs-impact-ethereum-surprise-skeptics/" target="_blank" rel="noopener noreferrer nofollow">foresee</a> significant price surges, with projections reaching as high as 74%.
Read more: <a href="https://crypto.news/hong-kong-lawmaker-advocates-for-swift-adoption-of-spot-bitcoin-etfs-following-us-lead/" rel="noopener noreferrer nofollow"> Hong Kong lawmaker advocates for swift adoption of spot Bitcoin ETFs following US lead </a>

Robinhood to add support for spot Bitcoin ETFs ‘as soon as possible’

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