Grayscale, a digital asset management, has added its flagship Bitcoin (BTC) and Ether (ETH) products to Robinhood, a popular trading app with millions of users.
Grayscale's Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) will be available to trade directly through Robinhood starting on Friday. GBTC shares give investors immediate access to Bitcoin in the form of a security without having to acquire or store the digital currency. ETHE, on the other hand, is an open-end investment corporation whose shares represent the trust's Ether holdings.
Grayscale's Bitcoin Trust is the world's largest investment vehicle dedicated to the world's most popular cryptocurrency. The trust has $24.6 billion in assets under management as of May 2. Meanwhile, Grayscale's Ethereum Trust has $329 million in assets.