Grayscales GBTC and ETHE products now available on Robinhood

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-Digital asset manager Grayscale has made its flagship Bitcoin (BTC) and Ether (ETH) products available on Robinhood, the popular trading app open to millions of retail users.
-Beginning on Friday, Robinhood users will be able to trade Grayscales Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) directly through the app.
-Shares of GBTC provide investors with direct exposure to Bitcoin in the form of a security 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.
-Grayscales Bitcoin Trust is the largest investment vehicle dedicated to the leading crypto asset. As of May 2, the trust had $24.6 billion in assets under management.
-Grayscales Ethereum Trust, meanwhile, had over $329 million in assets.
-Robinhood operates a discount brokerage that provides retail investors with low-barrier entry to financial markets, including crypto.
-In the first quarter, the firms revenue declined by 43% year-over-year as sales from cryptocurrency trading dropped by 39%.
-Despite the decline, Robinhoods net cumulative funded accounts increased 27% year-over-year.
-Currently, Robinhood lists over 20 cryptocurrencies for trading on its platform.
-Retail traders embrace of crypto peaked in the first half of 2021, a period that coincided with multiple record highs for Bitcoin and the broader market.
-However, retail interest has declined significantly since then, as evidenced by Google search trends and a lack of new capital entering the market.

Grayscales GBTC and ETHE products now available on Robinhood
Grayscales GBTC and ETHE products now available on Robinhood 2

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