Robinhood Launches Micro Bitcoin, Solana and XRP Futures Contracts

Robinhood (HOOD) has launched micro futures on bitcoin

, solana and XRP within the United States., increasing its present crypto futures providing for its practically 26 million funded accounts.

Micro contracts want far much less collateral than full-size futures, letting merchants take directional positions whereas committing a smaller slice of capital.

The contracts provide merchants extra flexibility to guess on a cryptocurrency’s future worth path or hedge present positions given their smaller dimension.

The launch rounds out a futures suite that started with BTC and ETH in January. It additionally comes weeks after the agency closed its $200 million buy of Bitstamp and finalized a $179 million deal for Canada’s WonderFi.

Robinhood’s information exhibits that crypto notional volumes have exploded upward over time, reaching $11.7 billion in May. The determine marks a 36% rise month-over-month, and a 65% development year-over-year.