Едиторс Невс- Robinhood crypto trading revenues fell by 39 percent in the first quarter.
- Over $329 million was invested in Grayscale’s Ethereum Trust.
For a long time, Robinhood’s цриптоцурренци trading app only featured a limited number of coins. Now, two equity products linked to the price of crypto are accessible on the platform. On Robinhood, the popular trading app accessible to millions of retail users, Grayscale has made its flagship Bitcoin, и Ethereum (ETH) Trust available.
Variable Options For Investors
When Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) went live Friday, робинхоод users could trade straight from the app. Instead of needing to acquire or keep Bitcoin themselves, investors may own a piece of the digital currency via GBTC stock. While ETHE is an open-end investment firm, the value of Ether owned by the trust is reflected in the business’s share price.
Grayscale has established an investment entity devoted to Bitcoin. The trust has $24.6 billion in assets under management as of May 2. Over $329 million was invested in Grayscale’s Ethereum Trust.
Low-cost access to financial markets, including crypto, is provided via Robinhood’s discount brokerage service for consumers. As crypto trading revenues fell by 39 percent in the first quarter, the company’s revenue fell by 43 percent year-over-year. Robinhood’s net cumulative funded accounts grew 27% year-over-year despite the reduction. Over 20 cryptocurrencies are now available for trading on Robinhood.
During the first half of 2021, retail investors’ interest in cryptocurrencies surged, coinciding with numerous record highs for Bitcoin and the overall market. However, Google search patterns and a scarcity of fresh funding in the market show that retail interest has decreased dramatically since then.
Source: https://thenewscrypto.com/prominent-exchange-robinhood-lists-grayscales-gbtc-and-ethe-products/