Robinhood Adds Support for Grayscale’s Crypto Trusts

Online broker Robinhood has just added support for Grayscale Investments’ crypto trusts based on Bitcoin and Ethereum.

From now on, the users of the app can buy units of Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).

As of May 6, the former managed assets worth $23.05 billion, while the latter managed $8.29 billion.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

The GBTC and the ETHE are products that offer investors access to cryptocurrencies without the need to purchase digital assets directly. Grayscale charges clients a 2% commission for managing the trusts.

Over the past year, the shares in these structures have traded at a significant discount to NAV.

Notably, Grayscale hopes to solve the problem by converting its trusts into exchange-traded funds (ETFs).