Digital asset manager Grayscale makes its flagship Bitcoin (BTC) and Ether (ETH) products on Robinhood, the most popular buying and selling application available to countless retail users.
Beginning on Friday, Robinhood users can trade Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) directly with the application. Shares of GBTC provide investors with subjection to Bitcoin by means of a burglar without getting to purchase or keep digital asset directly. ETHE, meanwhile, operates being an open-finish investment company whose shares reflect the need for Ether held through the trust.
Finally! Now you can trade Grayscale Bitcoin Trust and Grayscale Ethereum Trust on Robinhood$GBTC $ETHE https://t.co/MzOJxvI7GG
— Craig Silbert (@BarrySilbert) May 6, 2022
Grayscale’s Bitcoin Trust may be the largest investment vehicle focused on the key crypto asset. By May 2, the trust had $24.6 billion in assets under management. Grayscale’s Ethereum Trust, meanwhile, had over $329 million in assets.
Here’s a glance at our 14 single asset crypto investment funds by 5/2/2022.
AUM along with other stats on all Grayscale goods are updated daily on the website: https://t.co/smju2moRYQ$BAT $BCH $BTC $ETC $ETH $FIL $LINK $LPT $LTC $MANA $SOL $XLM $ZEC $ZEN pic.twitter.com/sv5FLsd0uW
— Grayscale (@Grayscale) May 2, 2022
Robinhood operates a price reduction brokerage that gives retail investors with low-barrier admission to markets, including crypto. Within the first quarter, the firm’s revenue declined by 43% year-over-year as sales from cryptocurrency buying and selling came by 39%. Regardless of the decline, Robinhood’s internet cumulative funded accounts elevated 27% year-over-year. Presently, Robinhood lists over 20 cryptocurrencies for buying and selling on its platform.
Related: Robinhood axes almost 10 % staff people as stock hits all-time low
Retail traders’ embrace of crypto peaked within the first 1 / 2 of 2021, a period of time that coincided with multiple record highs for Bitcoin and also the broader market. However, retail interest has declined considerably since that time, as evidenced by Search trends along with a insufficient new capital entering the marketplace.