Robinhood is gearing up to drop perpetual futures for eligible US customers in the coming months. 💀 CEO Vlad Tenev spilled the tea on X saying the company is bringing America its first true perps and that profit and loss will settle every 15 minutes.
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The company unveiled the product at its HOOD Summit in Houston. Customers can go long or short on BTC, ETH, SOL, XRP, DOGE, ADA, LINK, and HYPE. Check the details here A perpetual future is a leveraged contract that tracks an asset price with no settlement date so traders can hold positions as long as they cover the margin. Bitcoin and Ethereum contracts allow up to 10x leverage while the other six stay capped at 3x and Robinhood Derivatives will provide the contracts through Bitstamp. Trading runs at just 0.01% per trade through the end of the year which is basically some of the lowest fees around. 📉 Users can also set stop-loss and take-profit orders watch liquidation prices in real time and snag alerts when things get risky. Ownership does not work without markets and markets do not work without traders Tenev said. The CEO added that Robinhood aims to be the best spot in the world for active traders by handing out tools once saved for hedge funds big banks and quant firms. 🖤 The platform also rolled out an in-app AI tool called Robinhood Agents that helps craft strategies research markets and trade inside preset limits with manual approval on by default. Over 15,000 users have already opened agentic trading accounts since the May launch and these agents use Robinhood tools almost 30 million times a day. 👀 In addition the firm is adding earnings contracts tied to company metrics like revenue targets and results. Those binary options will drop through Cboe and need options approval. 🌑
Robinhood Stacking Up Against The Rivals 🕸️
The bigger derivatives push is spreading beyond just Robinhood. Coinbase filed registrations with the SEC to offer single-stock perpetual futures to US investors though that does not lock in any launch timeline. Bybit took a wilder route with its new forex perpetuals allowing up to 100x leverage and 24/7 trading compared to Robinhood 10x cap. ⚰️ Remember perpetuals still come with funding costs and liquidation risks since positions can close if losses pile up too high and Robinhood has not shared an exact launch date beyond the coming months. 💸
Just another echo from the void by iconofsin.eth 💖
