Robinhood, the U.S.-based financial services company, has expanded its presence in the cryptocurrency market by announcing its plan to acquire Bitstamp, one of Europe’s largest and most regulated crypto exchanges. The acquisition deal, valued at $200 million in cash, will allow for Robinhood to enhance its service offerings and reach an international audience. Details of the Acquisition Bitstamp, established in 2011, is known for its regulatory compliance and extensive array of services, including spot trading for over 85 cryptocurrencies, institutional lending, and staking. The exchange is also notable for holding more than 50 global licenses and registrations, ensuring a high

The U.S. Securities and Exchange Commission (SEC) has approved the sale of spot Ether Exchange-Traded Funds (ETFs) in the United States, marking another significant milestone for the cryptocurrency industry. On May 23, 2024, the SEC granted approval to Nasdaq, CBOE, and NYSE to list ETFs tied to the price of ether, potentially setting the stage for these products to begin trading later this year. A Milestone Decision This approval follows the SEC’s earlier decision in January 2024 to approve Bitcoin ETFs and ETPs after a prolonged battle. The recent decision represents the SEC’s second major step regarding crypto Exchange-Traded Products,