Robinhood Introduces 11 New Spot Bitcoin ETFs on the Heels of SEC Approval

US-based financial services company Robinhood Markets, Inc. announced yesterday (January 11, 2024) the addition of 11 new spot Bitcoin ETFs that were approved by the U.S. securities regulator SEC a day before.

According to the official press release, the new instruments have been available to all clients in the U.S. yesterday morning in both retirement and brokerage accounts though Robinhood Financial.

Customers can to buy or sell Bitcoin ETFs just as they would any other ETF or stock, notes the company. Also, they can purchase Bitcoin directly through crypto trading app Robinhood Crypto.

"Providing expanded access to the financial markets and increasing customer choice are at the core of Robinhood's mission, which is why we're excited to add support for various Bitcoin ETFs in both retirement and brokerage accounts," said Steve Quirk, Chief Brokerage Officer at Robinhood.

"We believe crypto is the financial framework of the future and that increased access to Bitcoin via ETFs is a good thing for the industry," added Johann Kerbrat, GM of Robinhood Crypto.

Last month, Fazzaco reported that Robinhood saw crypto trading volume in November ​jump 74 percent month-on-month to $4.0 billion.