Robinhood, a commission-free stock trading platform, has announced the launch of Bitcoin and Ethereum futures trading, along with the introduction of the desktop trading platform ‘Legend’ and the addition of futures trading and index options on mobile for active traders. The company aims to boost adoption and competition in the financial services industry by offering low fees, an elegant mobile user interface, and a nearly 24-hour trading window.
Private wealth management company Bernstein projects Robinhood’s operating income to reach $900 million this year, with revenues of $3.4 billion expected next year and a market capitalization between $19 billion and $23 billion.
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