Robinhood Integrates Grayscale’s BTC and ETH Trusts; Enabling Users to Purchase Such Products within the App Itself

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Popular trading application Robinhood announced today the integration of Grayscale’s highly sought-after investment products, Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE), opening the app to millions more retail users. Grayscale’s integration on Robinhood means that, beginning this Friday, users will now be able to trade GBTC and ETHE via the app freely.

The two investment products mentioned above trade much like your traditional stock while also allowing investors to get substantial exposure to the price of the two top cryptos today, Bitcoin and Ethereum, without downright purchasing them. Digital asset manager Grayscale is responsible for the custodial of such investment products in exchange for a management fee, with the buyers getting a portion of cryptos in return.

The GBTC is today’s largest investment vehicle dedicated solely to the top crypto asset. As of last week, May 2, to be exact, the particular Grayscale trust had registered over $24.6 billion in assets under management. Meanwhile, the ETHE, which notably operates as an open-end investment firm whose shares mirror the value of Ether held by the trust itself, recorded more than $329 million in assets under management within the same period.

Since the departure of the previous Robinhood Crypto COO Christine Brown last month, the digital asset management firm announced several major integrations to its digital asset offerings. Just this April, the company added Polygon, Solana, Shiba Inu, and Compound.

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