Grayscale’s GBTC and ETHE Products Now Available on Robinhood

Digital asset manager Grayscale has launched its flagship bitcoin (BTC) and ethereum (ETH) products onRobinhood,apopulartradingapp available to millions of retail users.

Starting Friday, Robinhood users will be able to trade Grayscale’s Bitcoin Trust(GBTC)and Ethereum Trust(ETHE) directly through the app . Shares of GBTCoffer investors direct exposure to Bitcoin in the form of securitieswithouttheneedto directly purchase or store the digital asset. At the same time, as an open-ended investment company, its stock reflectsthe value of the ETH held by the trust.

Finally! You Can Now Trade Grayscale Bitcoin Trust and Grayscale Ethereum Trust on Robinhood

— Barry Silbert (@BarrySilbert) May 6, 2022

Grayscale’s Bitcoin Trust is the largest investment vehicle focused on the leading cryptocurrency asset. As ofMay2, the trust managed $ 24.6billion in assets.

Below are our 14 single-asset cryptocurrency investment funds as of February 5, 2022.
The AUM and other statistics of all Grayscale products are updated daily on our website: https://t.co/smju2moRYQ $BAT $BCH $BTC $ETC $ETH $FIL $LINK $LPT $LTC $MANA $SOL $XLM $ZEC $ZEN pic.twitter.com/sv5FLsd0uW

— Grayscale (@Grayscale) May 2, 2022

Meanwhile, Grayscale’s Ethereum Trust has more than$329 million in assets.

Robinhood operates a discount brokerage that offers retail investors low barriers to entry into financial markets, including cryptocurrencies. In the first quarter, the company’s revenue fell43% year over year as sales from cryptocurrency exchanges fell 39 % . Despite the decline,Robinhood's net cumulative money account was up27% year-over-year . Currently,Robinhoodlists more than 20cryptocurrencies for trading on its platform.

Retail traders’ acceptance of cryptocurrenciespeaked in the first half of 2021, a period that coincided with record highs for Bitcoin and the broader market. Since then, however, retail interest has declined significantly, as evidenced by Google search trends and a lack of new capital entering the market.