Robinhood Adds Support for All Eleven Spot Bitcoin ETFs

TL;DR

• Robinhood has listed all eleven spot Bitcoin ETFs for clients with retirement and brokerage accounts.

Robinhood Lists Spot Bitcoin ETFs

U.S. investment app Robinhood announced on Thursday that it has listed all 11 spot bitcoin exchange-traded funds on its platform. The ETFs are available for both retirement and brokerage accounts. 

While commenting on this latest development, Johann Kerbrat, general manager of Robinhood Crypto, said,

“We believe crypto is the financial framework of the future and that increased access to Bitcoin via ETFs is a good thing for the industry.”

This latest development comes barely 24 hours after Robinhood’s CEO Vlad Tenev said that the SEC’s approval of spot Bitcoin ETFs opens doors to better risk management for customers in managing crypto investments. At the time, he added that Robinhood was working to list the ETFs as soon as possible.

While Robinhood is embracing Bitcoin ETFs, Vanguard is blocking its users from buying them. The asset management firm said it would not allow users with its brokerage accounts to buy the ETFs, as they were highly speculative,  unregulated and didn't fit with Vanguard’s long-term investing philosophy.

The SEC approved 11 spot Bitcoin ETFs on Wednesday and they are from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin Templeton.