News - The race is on: Robinhood wants Bitcoin Spot ETFs listen

By Ted Maas

The race is on: Robinhood wants Bitcoin Spot ETFs listen

The big Bitcoin ETF party started yesterday. Robinhood CEO Tenev wants in and is aiming to list on his platform as soon as possible.

Following the approval of 11 Bitcoin Spot ETFs in the U.S., Robinhood plans to put the financial products on its platform as soon as possible. CEO Vladimir Tenev announced this last night on X (formerly Twitter). Tenev said, "When it comes to accessing cryptocurrencies, we were past our prime. We plan to offer ETFs as soon as possible."

According to the CEO, the admission of financial products is a "milestone" which the "integration of cryptocurrencies into the traditional financial sector" accelerates, Tenev continued.

The crypto sector has been anxiously awaiting the admission of Bitcoin Spot ETFs for years. After long back and forth, the Securities and Exchange Commission gave in last night and green-lighted 11 applications. Experts expect a massive influx of money from institutional investors.

Meanwhile, this is not Robinhood's first dance in the crypto space. The company has been involved in the sector for several years. In August, it was revealed that Vladimir Tenev's company currently holds the third-largest amount of Bitcoin. 118,000 BTC, currently worth more than $5 billion, are thus held on a single wallet.

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