Robinhood Lists Grayscale’s Bitcoin and Ethereum Trusts

On May 6, the fiscal services institution Robinhood announced the steadfast has listed Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). Robinhood customers tin present summation entree the crypto concern products successful bid to get vulnerability to bitcoin oregon ethereum without really owning the integer currencies.

In Addition to Cryptos, Robinhood Adds Grayscale’s GBTC and ETHE

This week Robinhood added GBTC and ETHE to the company’s level and the firm’s brokerage relationship customers tin present bargain oregon merchantability GBTC and ETHE banal and options commission-free.

There's 2 caller ways to entree crypto connected @RobinhoodApp. You tin commencement trading $GBTC and $ETHE today. https://t.co/n09aiEVhqEhttps://t.co/6tFrYCsmzx pic.twitter.com/AxKH7xZ0nS

— Grayscale (@Grayscale) May 6, 2022

Robinhood adding GBTC and ETHE concern products follows the steadfast rolling out its crypto wallet during the archetypal week of April. On April 12, 2022, Robinhood listed shiba inu (SHIB), compound (COMP), polygon (MATIC), and solana (SOL).

The laminitis and CEO of Digital Currency Group (DCG), the genitor institution of Grayscale Investments, Barry Silbert, was thrilled to spot Robinhood database GBTC and ETHE. “Finally,” Silbert tweeted. “You tin present commercialized Grayscale Bitcoin Trust and Grayscale Ethereum Trust connected Robinhood.”

Year-to-date statistic amusement GBTC is down 46.63% and ETHE is down 44.08%. Grayscale precocious filed a Form 10 with the U.S. Securities and Exchange Commission (SEC) for a Zcash Trust, Stellar Lumens Trust, and Horizen Trust.

Grayscale is besides successful the midst of trying to get its spot converted into an exchange-traded money (ETF). However, the SEC has been an obstacle for bitcoin spot ETFs to look and the U.S. regulator has yet to o.k. a bitcoin spot ETF.

Grayscale Investments’ CEO Michael Sonnenshein recently explained successful an interrogation that the SEC could perchance interruption the Administrative Procedure Act if a bitcoin spot ETF is wholly denied.

The firm’s main ineligible officer, Craig Salm, described what the conversion process would look similar if the spot became an ETF. “GBTC stock prices volition apt determination to commercialized successful enactment with NAV,” Salm detailed. “Then, the shares would beryllium uplisted from OTCQX to NYSE Arca,” the main ineligible serviceman added.

Grayscale Investments is besides asking radical to get involved with the effort to get the U.S. regulator to o.k. the conversion of GBTC to an ETF.

Prior to adding Grayscale’s Bitcoin Trust and Ethereum Trust, Robinhood started its European enlargement and precocious acquired the UK crypto institution Ziglu. Additionally, past period the co-founder and CEO of Robinhood, Vladimir Tenev, discussed however DOGE could standard with Tesla’s Elon Musk.

What bash you deliberation astir Robinhood adding GBTC and ETHE? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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