Robinhood Introduces Micro Futures on Bitcoin, Solana, and XRP

Robinhood (HOOD) has introduced micro futures for Bitcoin (BTC), Solana (SOL), and XRP in the United States, expanding its existing crypto futures offerings for its nearly 26 million funded accounts.

Advantages of Micro Futures

Micro contracts require significantly less collateral than traditional full-size futures, allowing traders to take directional positions while committing a smaller portion of their capital. These contracts provide more flexibility for traders to speculate on a cryptocurrency’s future price direction or hedge current positions due to their smaller size.

Recent Developments

The launch of micro futures complements Robinhood’s futures suite, which began with Bitcoin and Ethereum (ETH) in January. This comes shortly after the company finalized a $200 million acquisition of Bitstamp and a $179 million deal for Canada’s WonderFi.

Growing Crypto Volumes

According to Robinhood’s data, cryptocurrency notional volumes have significantly increased over time, hitting $11.7 billion in May. This amount marks a 36% rise compared to the previous month and a 65% increase year-over-year.