Cathie Wood: "Robinhood offers 2% rewards for crypto transfers…ETH funds are moving to corporate assets"
Minseung Kang
Summary
- CEO Cathie Wood announced that Robinhood is offering 2% rewards to customers who transfer cryptocurrency.
- She reported that VCs and investors are moving staked Ethereum (ETH) to Digital Asset Treasury companies.
- She stated these companies’ stocks provide a way to indirectly invest in Bitcoin and Ethereum.
Following Robinhood’s cryptocurrency transfer reward program, there has been an observed trend where venture capitalists (VCs) and investors are moving staked Ethereum (ETH) to other companies.
On the 26th (local time), Cathie Wood, CEO of Ark Invest, stated on X (formerly Twitter), "Robinhood is offering 2% rewards to customers who transfer cryptocurrency," and added, "VCs and investors are moving staked ETH to 'Digital Asset Treasury' (DAT) companies." She explained that this is a strategy aimed at achieving greater returns when the lock-up period is lifted.
Wood further mentioned, "Shares of these companies, similarly to MicroStrategy (MSTR), provide a way to indirectly invest in Bitcoin and Ethereum."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
