Popular cryptocurrency and stock exchange Robinhood continues to expand its cryptocurrency product range.
The company announced today that it has launched micro futures contracts for XRP and Solana, along with a micro version of its existing “Bitcoin Friday” futures.
Micro-futures are smaller in scale than traditional futures contracts, allowing investors to speculate or hedge against asset price movements with lower capital requirements and risk. These products are often preferred for assets such as stock indices, commodities and currencies.
Robinhood began gradually rolling out futures products for foreign exchange (FX), index, commodity, and cryptocurrency markets earlier this year. Initially focused on Bitcoin and Ethereum, Robinhood offered products such as Bitcoin futures, micro Bitcoin futures, Bitcoin Friday contracts, and ETH futures.
On the other hand, Robinhood took an important step by purchasing cryptocurrency exchange Bitstamp for $200 million earlier this month.
*This is not investment advice.
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