In less than 24 hours since Robinhood CEO Vlad Tenev promised to list Bitcoin spot ETFs, all 11 approved active products are now available for trading on the app. like the signature AnnouncedRetail investors can now purchase the ETFs, and it specifically stated that the ETFs are available for both retirement and brokerage accounts.
In less than 24 hours since Robinhood CEO Vlad Tenev promised to list Bitcoin spot ETFs, all 11 approved active products are now available for trading on the app. like the signature AnnouncedRetail investors can now purchase the ETFs, and it specifically stated that the ETFs are available for both retirement and brokerage accounts.
Robinhood said users of its app who want to buy spot Bitcoin ETFs can do so like they would buy any regular stock or ETF. As is known, Robinhood offers commission-free trading on ETFs. This makes Robinhood one of the cheapest places to buy the newly launched financial product.
The trading app said that users can also purchase Bitcoin directly despite the ETF listing, highlighting its commitment to democratizing access to the most relevant financial products. While Robinhood operates in many markets, the company confirmed that the 11 Bitcoin spot ETFs are only available to its customers residing in the United States.
In accordance with regulatory demands, Robinhood detailed risk disclosures associated with Bitcoin Spot ETFs as required by the United States Securities and Exchange Commission (SEC).
Bitcoin ETF Debut Trading Day: Key Data
The first day of trading for the 11 spot Bitcoin ETFs was impressive both in terms of count and expected trading volume.
According to Bloomberg Senior ETF Analyst Eric Balchunas, the total trade count for registered ETFs stood at 700,000, with Grayscale’s offering leading the pack with a total of 246,340 trades. BlackRock followed closely with 174,720 as the latest feeders, WisdomTree and Hashdex witnessed 3,228 and 2,227 trades, respectively.
In terms of volume, Grayscale also took the lead with a whopping $2.093 billion, while the total traded amounted to $4.11 billion. This far exceeds the $1.1 billion recorded by the ProShares Futures ETF when it went live in 2021.
