Robinhood exchange customers can now invest in Ethereum Classic (ETC). This announcement was made on August 6, just a day before Coinbase too added the same option. In a blog post, the exchange mentioned that the option of investing in ETC is live now on the Robinhood Crypto app. However, as of now only those investors in the 19 U.S. states which have access to the service can trade in ETC.
The blog post further adds that the users can also trade in Bitcoin Cash, Bitcoin, Ethereum, Litecoin, and Dogecoin. The exchange shared last week that it has started the final testing for ETC and mentioned that it would start accepting transfers in ETC from August 7. Initially, this new trading option will be available only for Coinbase Pro and Coinbase Prime users. Other customers won’t be able to trade in ETC immediately.
Robinhood mentioned that it intends to allow 24-48 hours of transfers via Pro/Prime before opening the markets. It stated that all ETC books will open in a post-only mode for a minimum of 10 minutes. After sufficient liquidity is established, the company will then enable trading on Pro and Prime.
Coinbase further clarified that its customer service will only add the asset if they are listed on Coinbase Pro and Prime. The Coinbase Pro and Prime users who held ethereum prior to the 2016 fork will receive a credit for ETC. However, as reported by CoinDesk, retail customers of the exchange won’t receive the same, as Ethereum wasn’t supported until the fork.
Coinbase first made this announcement of adding Ethereum Classic in June this year. It had stated that the selection was consistent with its Digital Asset Framework. The listing announcement made by the exchange caused the token’s price to spike 25 percent in just 30 minutes to just over $16.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]