Vlad Tenev, CEO of trading app Robinhood Markets, evaluated the potential of the spot Bitcoin ETF.
Answering a question about the spot Bitcoin ETF at the company’s meeting yesterday, Tenev said that Bitcoin is a portfolio diversification option He stated that it is becoming more and more attractive:
“I think we’re seeing Bitcoin starting to appeal to more and more people as a diversification asset in the mainstream. It has long been argued that it is a good choice to protect against inflation. “When inflation is high, people are of course looking for ways to diversify their investments.”
Robinhood’s customers in the US have been able to trade Bitcoin and Ethereum on the app since 2018. Saying that they have been supporting cryptocurrency transactions for a long time, Tenev said in the user interface: especially in terms of transparency He stated that they had made significant improvements.
“The number of customers who will understand what a good job they are doing by diversifying their portfolio with cryptocurrencies will increase,” Tenev said. said.
Robinhood’s revenue from cryptocurrency transactions fell 55% in the third quarter compared to the previous quarter, falling to $23 million.
However, the company is determined to continue its activities in the cryptocurrency industry. Robinhood in the coming weeks Cryptocurrency service in the European Union is preparing to give.