Investing app Robinhood has announced that all 11 spot Bitcoin ETFs are available for both retirement and brokerage accounts.
“We believe that cryptocurrency is the financial framework of the future, and increasing access to Bitcoin through ETFs is a good thing for the industry,” Johann Kerbrat, general manager of Robinhood Crypto, said in the statement .
Robinhood CEO Vlad Tenev said Wednesday that the "historic" approval by the U.S. Securities and Exchange Commission opens up opportunities for better risk management for customers in managing their money investments. electronic.
Meanwhile, Vanguard said Thursday that it will not allow users with brokerage accounts to buy ETFs because they are "highly speculative," "unregulated" and do not fit with its investment philosophy. company's long term.
The 11 Bitcoin ETF spot funds approved Wednesday are funds from Bitwise, Grayscale, Hashdex, BlackRock , Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin Templeton.
Robinhood reported $94.4 billion in assets under custody at the end of November 2023.