Coinbase rival Robinhood planning Bitcoin spot ETF listing ASAP

On Jan 11, 2024

Following the approval of Bitcoin spot ETF products, the majority of the big players are now open to bringing Bitcoin spot ETF products on their platform & portfolio, to enjoy the journey on Bitcoin vehicle.

Robinhood is the second top crypto & stock platform in the US which is mainly known for its highly regulated services. Initially, this platform came in the market as a stockbroker but later introduced crypto trading services, on behalf of customers’ demand.

On 11 Jan 2024, Robinhood CEO Vlad Tenev confirmed that Robinhood will start offering Bitcoin spot ETF products as soon as possible.

Exciting update from Washington today! As a pioneer in offering spot crypto trading, Robinhood is thrilled about the @SECGov's decision to approve spot Bitcoin ETFs. We've been ahead of the curve in crypto access, and we plan to list these ETFs on @Robinhoodapp as soon as…
— Vlad Tenev (@vladtenev) January 10, 2024

Vlad said that Bitcoin spot ETF trading on Robinhood will help the customers to get better diversification of portfolio & approval of Bitcoin spot ETF products by the US SEC is clarity for people to invest in Bitcoin under a more protected form.

Between 2021 to 2023, Robinhood listed multiple crypto assets on its platform but later removed a dozen cryptocurrencies, which were mentioned as a securities token in the SEC’s legal actions against other crypto companies e.g Kraken, Coinbase, Binance, Bittrex, etc.

Bitwise Bitcoin spot ETF (BITB)

Following the approval of Bitcoin spot ETF applications by the SEC, Bitwise fund manager confirmed that it will donate its 10% Bitcoin spot ETF revenue to those people who have been supporting Bitcoin open-source development for the last 15 years as a non-profit.

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Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development.

Recipient orgs:
– @BitcoinBrink
– @OpenSats
– @HRF

Bitcoin is important to the future. We're excited for $BITB to support its foundation 👇 pic.twitter.com/JMzd4bMOB9
— Bitwise (@BitwiseInvest) January 10, 2024

Bitwise aimed to financially support the Bitcoin & crypto sector with a donation, as a good initiative to push the Bitcoin sector growth to a better level.

According to Bitwise, many people are spending their time on the Bitcoin blockchain network as a developer, so that the Bitcoin network can run with more stability, safety, & security.

This fund manager labelled such people “unsung heroes”. Bitwise will donate 10% of Bitcoin ETF revenue by the end of every year for at least the next 10 years.

Bitcoin price action

Following the bullish sentiments in the Crypto sector, today the trade price of Bitcoin (BTC) hit nearly $47.5k. The current trade price of Bitcoin is 3.3% high over the last 24 hours trade price.

Coinbase rival Robinhood planning Bitcoin spot ETF listing ASAP 1