- The platform offers 15 cryptocurrencies at the moment as mentioned on the website.
- Cathie Wood’s Ark Fintech Innovation ETF (ARKF) purchased 221,759 shares of HOOD.
Robinhood said on Thursday that it would launch its platform in the United Kingdom in early 2024. Retail investors in the UK can expect a new age of accessibility and opportunity, similar to the platform’s revolutionary influence in the US, as Robinhood gets ready for its worldwide debut. The platform offers 15 cryptocurrencies at the moment.
No doubt Robinhood is taking a bold step by offering commission-free stock trading to clients in the United Kingdom. Robinhood CEO Vlad Tenev, meantime, is keen to revitalize the UK market by reducing costs, following in the footsteps of the company’s successful US venture before the pandemic disruption.
Enticing Features and Offerings
In a recent interview with Bloomberg News, Tenev mentioned his interest in bringing the charge reduction technique that was used in the US in 2019, just before COVID-19, to clients in the UK.
Robinhood, on the other hand, is trying to attract consumers in the UK by providing enticing features including zero trading costs or charges, trading outside of market hours, and 5% interest on uninvested funds. This makes it a tempting offer for investors with even modest money.
In a market where retail investors’ excitement for equities has partly subsided, Tenev seems to want Robinhood to be a game-changer.
The investment management company Ark Invest, which is led by Cathie Wood, has sold off more Coinbase shares, making it the second sale of COIN stock this week. At the same time, ARK Invest has purchased Robinhood shares. On November 29, Cathie Wood’s Ark Fintech Innovation ETF (ARKF) purchased 221,759 shares of HOOD.
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