Digital Brokerage Robinhood has launched Bitcoin’s Micro Futures contract (BTC), solana (sol) and xrp(XRP), enabling cryptocurrency traders to trade derivatives to significantly reduce capital demand.
The new product was officially unveiled in the U.S. on Friday, expanding Robinhood’s existing Bitcoin and Ether’s Crypto futures products (eth).
The Micro Futures contract is a smaller version of a standard futures contract, allowing traders to speculate on asset price changes with lower upfront investments.
Robinhood, which has more than 25 million funded customer accounts, announced its Enter cryptocurrency futures in January. At the time, the company said that promotion would initially be limited to Bitcoin and Ethereum.
However, Robinhood’s expansion to spot cryptocurrency trading began in 2018. Since then, its footprint in the field has continued to expand.
Related: U.S. futures hit record highs, setting bitcoin to new peak: analysts
Robinhood expands crypto products with major acquisitions
Robinhood can strengthen its crypto products by strategically acquiring key players in the field.
In early June, the company announced that it had completed $200 million acquires crypto exchange Bitstampand with it, it has obtained more than 50 licenses and registrations worldwide in the process.
in May, Robinhood also got Wonderfi – A Canadian company operating a regulated cryptocurrency trading platform – $179 million. Wonderfi owns Bitbuy and Coinsquare, jointly manage billions of dollars in customer assets.
These transactions reflect the growing M&A activity in the cryptocurrency space, highlighting the likes of blockbuster deals like this Coinbase’s $2.9 billion acquisition of Deribit and Ripple’s $1.25 billion Take over the main broker’s hidden road.
According to Patrick Heusser, head of Santora Lending, the deals for large mergers highlight the growing trend of integration in the cryptocurrency industry, with several companies struggling to face challenges in macroeconomic conditions and tight markets.
These factors have partially caused a significant recession in crypto venture investment transactions, with only 62 transactions closed in May. root.
Related: Despite raising $909 million in May
