Hassan Maishera
TL;DR
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Bloomberg plans to launch CME-based Bitcoin and Ether futures in the United States.
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The company has already agreed to acquire Bistamp in a $200 million deal.
Robinhood to Enter the Crypto Futures Space
Trading platform Robinhood is looking to launch cryptocurrency futures on its platforms, according to a Bloomberg report on Tuesday. The report pointed out that Robinhood wants to leverage its upcoming Bitstamp acquisition to expand its presence in the crypto space.
The company wants to launch CME-based Bitcoin and Ether futures in the United States. While citing people familiar with the matter, Bloomberg revealed that Robinhood would use Bitstamp's licenses to offer perpetual futures for Bitcoin and other tokens in Europe. Bloomberg said,
"In May, spot trading volumes on centralized exchanges was $1.57 trillion, while monthly derivatives volume reached $3.69 trillion, according to data from crypto researcher CCData."
A Robinhood spokesperson told Bloomberg that the company has no imminent plans to launch these offerings.
Robinhood is expanding its presence in the cryptocurrency space and recorded a 224% surge in crypto trading volume in the first quarter of the year. The company also recently struck a deal to acquire Bitsamp for $200 million, with the deal expected to close in the first half of 2025.
Bitstamp is currently the oldest operating cryptocurrency exchange and has over 50 licenses and registrations globally. Its acquisition would enable Robinhood to gain access to institutional crypto clients for the first time.
Robinhood also acquired Marex FCM in March, a move that grants it the license to offer futures in the United States.
