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- Robinhood Brings U.S. Crypto Perps In-App
Robinhood Brings U.S. Crypto Perps In-App
PLUS: Bitcoin Closes September Near a Record Gain
Welcome back to The Warmup.
Happy Wednesday, and welcome to agentic consumer AI: where we let our agents trade for us and lose all of our money.
Here’s what we’re watching:
Market Snapshot
Robinhood Brings U.S. Crypto Perps In-App
Bitcoin Closes September Near a Record Gain
Market: Stocks closed higher and VIX eased while Bitcoin held green and ETH and SOL slipped.
Robinhood Brings U.S. Crypto Perps In-App
What’s going on:
Robinhood said it will offer perpetual futures to eligible U.S. users in the coming months, with up to 10x leverage on $BTC ( ▲ 1.23% ) and $ETH ( ▼ 0.17% ) and 3x on names like Solana, XRP, Dogecoin, ADA, LINK, and HYPE.
The contracts will run through Bitstamp, charge 0.01% per trade through year-end, and settle P&L every 15 minutes with no expiry date.
The same announcement added Robinhood Agents, in-app AI tools that can trade around the clock, plus a plan for 24/7 trading in select U.S. stocks after regulators review it.
Perps are futures that never expire. You put up margin, the exchange marks the position to market, and if the move goes against you far enough the position gets closed.
That is the product U.S. retail has mostly watched from offshore venues until now.
What it means:
The largest U.S. retail broker is putting the most used crypto derivative next to the same buy button people already use for stocks.
That pulls volume toward a supervised venue and away from offshore books, which is why traders immediately asked whether Lighter or Bitstamp would win the routing.
Bitcoin Closes September Near a Record Gain
What’s going on:
Bitcoin is holding around $83,000 to $83,600 on the last day of the month, up roughly 7% in September after tagging an eight-month high near $87,400 last week.
That would be the best September in the record and a 4th straight green September if the close holds.
The price is doing this with the 10-year Treasury still around 5.25%, oil firm, and U.S. core PCE due today.
What it means:
Spot bitcoin ETFs have stayed in inflow for more than a week, including about $66M on Tuesday with IBIT taking most of it, but daily prints have cooled from the nearly $1 billion day on September 21.
A historically weak month is finishing green while cash yields remain high, which tells you the September bid was real and that a lot of it already arrived through ETFs.
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Would you use 10x bitcoin perps inside a U.S. brokerage app? |
Higher yields, a stalled Clarity vote, and a $388M exchange exploit should have made September a grind.
Instead bitcoin is finishing the month near 7% up, ETFs flipped 2026 flows back to positive after the mid-month air pocket, and brokers spent the week wiring perps, clearinghouses, and stablecoin payment rails into products a normal account can actually open.
We are heading into PCE today and a new quarter with bitcoin parked above the estimated $81,700 average cost of ETF buyers and below last week’s $87,000 spike.
— The Warmup Team
Always do your own research. This newsletter is supplemental material to help educate readers as they make their own decisions. Projects mentioned here are provided to give a potential early-mover advantage.