Robinhood Brings Perpetual Futures to US Crypto Traders

Retail trading platform Robinhood is expanding its derivatives offerings to US customers by launching perpetual futures for eight popular cryptocurrencies. Perpetual futures are leveraged contracts that allow traders to hold a position with no settlement date, and can be used to go long or short on the underlying asset.

The company announced the product at its HOOD Summit in Houston, where CEO Vlad Tenev stated that Robinhood is bringing America 'its first true perps' with the launch. The perpetual futures will initially be available for BTC, ETH, SOL, XRP, DOGE, ADA, LINK, and HYPE.

The contracts will allow up to 10x leverage for Bitcoin and Ethereum, while the other six assets will have a cap of 3x. Trading costs one basis point (0.01%) per trade through the end of the year, which is described as some of the lowest fees in the industry.

The launch follows similar moves by other trading platforms, with Coinbase filing registrations with the SEC to offer single-stock perpetual futures and Bybit introducing forex perpetuals that allow up to 100x leverage.