Shares of Robinhood (HOOD) climbed one other 10% on Friday, extending a rally that has pushed the fill up greater than 20% over the previous two buying and selling periods as traders reacted to a string of developments tied to the corporate’s crypto, AI and retail investing initiatives.
A part of the momentum got here from regulatory information earlier Friday after the U.S. Commodity Futures Buying and selling Fee (CFTC) authorized bitcoin (BTC) perpetual futures contracts on a regulated alternate operated by Kalshi, marking the primary domestically regulated perpetual futures product within the U.S.
The company additionally cleared a path for a Coinbase (COIN) affiliate to attach clients to world choices and perpetual futures markets. CFTC Chairman Mike Selig known as the choices a “main step ahead” for insurance policies aimed toward supporting the U.S. crypto sector. The transfer might speed up the event of regulated crypto derivatives merchandise, an space the place Robinhood has been increasing following its acquisition of crypto alternate Bitstamp.
Traders had been additionally digesting a number of company-specific bulletins made this week. On Wednesday, Robinhood unveiled Agentic Buying and selling and an Agentic Credit score Card, merchandise that enable clients to attach third-party AI brokers to their accounts to automate investing and spending selections. The corporate mentioned customers can set circumstances for AI brokers to watch markets, rebalance portfolios, execute trades and make purchases whereas guardrails similar to spending limits, notifications and instantaneous shutdown controls stay in place.
And on Thursday, the Trump Accounts app launched forward of a broader rollout scheduled for July. Robinhood is serving because the brokerage and clearing accomplice for this system, which permits households to open funding accounts for youngsters and, for eligible newborns, obtain a $1,000 Treasury-funded contribution.