Robinhood reportedly considering offering cryptocurrency futures in the US and Europe

(Bloomberg) — Robinhood Markets Inc. plans to offer cryptocurrency futures in the U.S. and Europe in the coming months, according to people familiar with the commission-free trading and investing platform’s plans.

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Once its $200 million acquisition of Bitstamp Ltd. closes next year, Robinhood hopes to use the cryptocurrency exchange’s licenses to offer perpetual futures contracts on bitcoin and other tokens in Europe, according to the people, who requested anonymity because the plans have not been made public. Robinhood also wants to launch CME-based futures contracts in the U.S. for bitcoin and ether, the people said.

“We have no imminent plans to launch these offerings,” a Robinhood spokesperson said. Discussions are ongoing, the people said, and final plans could still change.

Crypto derivatives are a larger market than the global spot market. In May, spot trading volumes on centralized exchanges totaled $1.58 trillion, while monthly derivatives volume reached $3.69 trillion, according to data from cryptocurrency researcher CCData. Demand for futures has surged since the approval of U.S. bitcoin exchanges earlier this year.

Robinhood has expanded its cryptocurrency strategy and offerings despite Wells’ notice from the U.S. Securities and Exchange Commission warning that it had initially decided to recommend enforcement action against the Menlo Park, California-based company. Despite that warning, Robinhood agreed in June to acquire Bitstamp, with the deal expected to close in the first half of 2025. Earlier this year, it acquired a futures brokerage license from Marex, which has the necessary license to offer futures contracts in the U.S., the people said.

Coinbase Global Inc., the largest U.S. cryptocurrency exchange, already offers derivatives products.

Robinhood shares fell 1.8% to $22.39 as of 10:45 a.m. in New York. The stock is up 76% this year.

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