Grayscale’s GBTC and ETHE products are now available on Robinhood

Digital asset manager Grayscale has made its flagship products Bitcoin (BTC) and Ether (ETH) available on Robinhood, the popular trading app open to millions of retail users.

Starting Friday, Robinhood users will be able to trade Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) directly from the app. Shares in GBTC offer investors direct exposure to Bitcoin in the form of a security without having to directly purchase or store the digital asset. ETHE, on the other hand, operates as an open-ended investment company, with shares reflecting the value of Ether held by the trust.

Grayscale’s Bitcoin Trust is the largest investment vehicle dedicated to the leading crypto asset. As of May 2, the trust managed $24.6 billion in assets. Grayscale’s Ethereum Trust, meanwhile, boasted over $329 million in assets.

Robinhood operates a discount brokerage offering retail investors barrier-free access to financial markets, including crypto. In the first quarter, the company’s revenue fell 43% year over year as sales from cryptocurrency trading fell 39%. Despite the decline, Robinhood’s cumulative funded net accounts grew 27% year over year. Currently, Robinhood lists over 20 cryptocurrencies for trading on its platform.

Related: Robinhood cuts nearly 1 in 10 employees as stock hits all-time low

Crypto adoption by retailers peaked in the first half of 2021, a period that coincided with multiple record highs for Bitcoin and the broader market. However, retail interest has since waned significantly, as evidenced by Google search trends and a lack of new capital entering the market.