According to Robinhood, Investors Are Selling to Buy Bitcoin ETFs!


U.S.-based cryptocurrency and stock trading platform Robinhood announced that 33% of spot Bitcoin ETF investors sold shares to balance their portfolios.

According to Bitcoin News, Robinhood's chief brokerage officer assessed investors' behavior with the launch of spot Bitcoin ETF trading

On Jan. 10, the U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs. Robinhood stated that it would list them quickly and then opened them for trading on the first day of trading.

According to a Robinhood official, 1/3 of buyers sold stocks in an attempt to rebalance their portfolios, with 20% of trades taking place from retirement accounts.

The official also said that GBTC sellers who were converted to Grayscale's spot Bitcoin ETF also largely transferred their money to other spot ETFs.
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