Robinhood launches ‘micro’ futures contracts for XRP and Solana

Robinhood Markets (ticker HOOD), the popular digital brokerage, has added micro XRP and Solana futures, marking the latest expansion of its crypto product suite, according to an announcement on Friday. The firm also rolled out a micro version of its existing Bitcoin Friday futures offering.

Micro futures are smaller-sized futures contracts that allow traders to speculate on or hedge against price movements of assets like stock indices, commodities, or currencies with lower capital requirements and reduced risk compared to standard futures.

Robinhood began rolling out its futures product for FX, indices, commodities, and cryptocurrencies earlier this year. Its first set of crypto futures, which are all cash-settled, included Bitcoin futures, micro Bitcoin futures, Bitcoin Friday futures, and ETH futures. It later expanded to XRP and Solana futures.

Earlier this month, Robinhood completed its $200 million acquisition of crypto exchange Bitstamp — a deal some observers say will help the U.S.-based trading firm expand globally. It is also looking to acquire the Kevin O'Leary-backed WonderFi platform.

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