According to reports, the US stock online broker Robinhood has launched XRP, Solana, and Bitcoin micro futures. Micro futures are smaller-scale futures contracts that are not significantly different from standard futures contracts, with lower margin requirements. The launch of this feature allows US retail traders to increase their exposure to cryptocurrencies at a lower threshold. As a reference, cryptocurrency trading revenue accounted for 43% of Robinhood's trading revenue in the first quarter.
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In fact, Robinhood has been offering futures products since October last year, initially providing traditional financial targets such as crude oil and S&P 500 index. Earlier this year, Robinhood began launching futures products for forex, indices, commodities, and cryptocurrencies. The first batch of cryptocurrency futures were all cash-settled, including Bitcoin futures, micro Bitcoin futures, Bitcoin Friday futures, and ETH futures. Subsequently, it expanded to XRP and Solana futures.
Micro futures contracts are smaller-scale futures contracts that, like standard futures contracts, allow traders to trade on the prices of assets such as stock indices, commodities, or currencies. Compared to standard futures, they have lower margin requirements.
Cryptocurrency Trading Revenue Accounts for 43% of Robinhood's Total Trading Revenue
At the beginning of this month, Robinhood completed the acquisition of cryptocurrency exchange Bitstamp for $200 million, expanding its global influence to support its crypto products. Since launching cryptocurrency trading in 2018, the importance of cryptocurrencies to Robinhood has continued to rise. According to reports, cryptocurrency trading revenue accounted for 43% of the company's total trading revenue in the first quarter.
Risk Warning
Cryptocurrency investment carries high risks, and its price may fluctuate dramatically. You may lose all of your principal. Please carefully assess the risks.
