FTX has opened up trading of a new derivative contract tied to Robinhood ahead of the trading app’s initial public offering.
It wouldn’t be the first such product that FTX has rolled out. The exchange created markets for shares in Coinbase and Airbnb ahead of their market debus. The pre-IPO contract is designed to roll into a tokenized representation of the real stock once it is listed.
As for Robinhood’s FTX debut, the contract (ticker: HOOD) was trading at around $90 at the time of writing.
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