%Robinhood Markets (NASDAQ: $HOOD) has launched new micro futures contracts for %Bitcoin (CRYPTO: $BTC),
%Solana (CRYPTO: $SOL) and XRP (CRYPTO: $XRP) in the U.S.
The new micro futures contracts expand the online brokerages’ crypto offerings for its nearly 26 million funded accounts.
Micro contracts require less collateral than full-size futures contracts, letting retail investors place bets on the future price movements of cryptocurrencies while committing less capital.
The contracts also allow investors to hedge their current positions regardless of their size.
This latest move from Robinhood comes after the exchange launched full-blown futures contracts for Bitcoin and Ethereum (ETH) in January of this year.
The micro futures contracts also come weeks after Robinhood closed its $200 million U.S. purchase of Bitstamp and finalized a $179 million U.S. deal to buy Canada’s %WonderFi.
Robinhood’s data shows that crypto trading volumes on its platform have exploded in recent months, reaching $11.7 billion U.S. in May of this year, a 65% year-over-year increase.
HOOD stock is up 110% this year and currently trading at $83.03 U.S. per share.
