Robinhood launches micro futures contracts for XRP and Solana

Gate News bot message, according to the announcement released on Friday, digital brokerage Robinhood Markets (stock code: HOOD) has launched micro XRP and Solana (SOL) futures, expanding its cryptocurrency product lineup. The company has also introduced a micro version of its existing Bitcoin futures products from Friday.

Micro futures are smaller-sized futures contracts that allow traders to speculate or hedge against price movements of assets such as stock indices, commodities, or currencies. Compared to standard futures, they have lower capital requirements and lower risks.

Robinhood began launching its futures products for foreign exchange, indices, commodities, and cryptocurrencies earlier this year. Its first batch of cryptocurrency futures are all cash-settled, including Bitcoin futures, micro Bitcoin futures, Bitcoin Friday futures, and ETH futures. Later, Robinhood expanded to XRP and Solana futures.

Source: The Block