coinspress.com
Robinhood has introduced a new feature called the 24-Hour Market, which allows customers to trade equities for certain stocks around the clock, five days a week.
This move is aimed at aligning traditional assets with digital assets, which are traded 24/7 on various exchanges, including Robinhood Crypto.
The company plans to make the 24-Hour Market available to all customers by June, but initially, a selected group of users will test the feature starting next week on Tuesday, according to a statement from Robinhood.
The statement from Robinhood mentioned that people would have the ability to place limit orders to purchase whole shares of 43 popular ETFs and individual stocks such as TSLA, AMZN, and AAPL.
Through this feature, users will be able to place limit orders on specific stocks, specifically the most actively traded individual stocks, and ETFs. The trading hours for this feature will be from 8:00 pm ET on Sunday to 8:00 pm ET on Friday.
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Robinhood has confirmed that the complete list of eligible stocks and ETFs will be disclosed on Tuesday when the 24-hour trading platform is launched.
In terms of Robinhood’s overall business, it was reported on May 10 that the company’s assets under custody grew to $78 billion in the first quarter.
Additionally, the total value of crypto assets under custody for Robinhood clients reached $11.5 billion during the same period, reflecting a significant increase compared to $8.4 billion at the end of 2022.