Robinhood Lists Grayscale Bitcoin and Ethereum Trusts
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GBTC and ETHE Now Available on Robinhood
According to Barry Silbert, the Founder and CEO of Digital Currency Group (the parent company of Grayscale), users of Robinhood can now buy and sell Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) directly via the app, starting today.
GBTC provides investors with direct exposure to Bitcoin without having to buy or store the digital asset directly. ETHE, meanwhile, operates as an open-end investment company whose shares reflect the value of Ether held by the trust.
As of May 2, Grayscale’s Bitcoin Trust is the largest investment vehicle dedicated to the leading crypto asset with $24.6 billion in assets under management. Grayscale’s Ethereum Trust, meanwhile, had over $329 million in assets.
New Crypto Assets on the Way
In April, Robinhood announced the addition of four new crypto assets to its platform including Compound, Polygon, Solana, and Shiba Inu, with more on the way.
The same month, the trading platform began rolling out crypto wallets to more than two million people on its waiting list, and it recently completed deployment to all customers.
