Key facts
- Robinhood announced crypto perpetual futures with up to 10x leverage for U.S. customers.
- Robinhood will offer 24-7 trading for select stocks and ETFs via Bruce ATS.
- Users can create AI trading agents within Robinhood, selecting models from OpenAI or Anthropic.
- Robinhood will offer contracts on company earnings, including revenue and EPS, through Cboe.
- Blockchain.com is targeting a $500 million IPO at a valuation up to $6 billion.
- Bitwise launched the first U.S. spot NEAR ETF.
Robinhood used its Houston summit to unveil a significant expansion of its trading offerings, aiming to capture more active traders. The company announced the introduction of crypto perpetual futures, which will be available to U.S. customers with up to 10x leverage on Bitcoin and Ether contracts, and starting at 3x on other assets, through Robinhood Derivatives and Bitstamp.
In addition to crypto derivatives, Robinhood is launching 24-7 trading for a selection of stocks and ETFs via an alternative trading system called Bruce ATS, effectively closing the gap between stock and crypto trading hours. The platform is also integrating AI-powered trading agents, allowing users to create automated trading accounts that utilize models from OpenAI or Anthropic to research markets and execute trades. Over 150,000 such accounts have already been created since Robinhood opened its systems to external AI earlier this year.
Further product announcements include earnings contracts, which will allow users to trade on specific company financial metrics like revenue and earnings per share through Cboe. The company also launched Robinhood Social, a social trading app integrated into its main platform, positioning itself as an 'everything app' for stocks, crypto, and prediction markets.
In broader market news, crypto majors were largely flat ahead of economic data, with Bitcoin trading around $83.9k and Ethereum at $2,700. Oil prices dipped 1% to $91, while gold rose 0.75% to $4,211. Stock futures showed a slight decline. Bitcoin has seen a strong September, up 7.33%, potentially setting a record for the month if it closes above $83,600. Cboe and S&P Dow Jones extended their S&P 500 options deal through 2051 and are exploring tokenized options contracts. Blockchain.com is reportedly targeting a $500 million IPO at a valuation of up to $6 billion. Bitwise launched the first U.S. spot NEAR ETF, and Kalshi is in advanced talks to raise $1 billion at a $40 billion valuation.