Robinhood Prepares to Bring Perpetual Futures to American Traders

Roadmap to perpetual futures just got clearer for Robinhood customers in the US. CEO Vlad Tenev announced plans to launch the product, which will allow traders to go long or short on eight crypto assets with up to 10x leverage.

The company is bringing 'its first true perps' to America, according to Tenev. The perpetual futures will track an asset's price without a settlement date, so traders can hold positions as long as they can cover them.

Crypto assets eligible for trading include BTC, ETH, SOL, XRP, DOGE, ADA, LINK, and HYPE. Bitcoin and Ethereum contracts allow up to 10x leverage, while the other six are capped at 3x. Robinhood Derivatives will provide the contracts through Bitstamp.

The 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.