Shares of Robinhood (HOOD) climbed another 10% on Friday, extending a rally that has pushed the stock up more than 20% over the past two trading sessions as investors reacted to a string of developments tied to the company’s crypto, AI and retail investing initiatives.
Part of the momentum came from regulatory news earlier Friday after the U.S. Commodity Futures Trading Commission (CFTC) approved bitcoin (BTC) perpetual futures contracts on a regulated exchange operated by Kalshi, marking the first domestically regulated perpetual futures product in the U.S.
The agency also cleared a path for a Coinbase (COIN) affiliate to connect customers to global options and perpetual futures markets. CFTC Chairman Mike Selig called the decisions a “major step forward” for policies aimed at supporting the U.S. crypto sector. The move could accelerate the development of regulated crypto derivatives products, an area where Robinhood has been expanding following its acquisition of crypto exchange Bitstamp.
Investors were also digesting several company-specific announcements made this week. On Wednesday, Robinhood unveiled Agentic Trading and an Agentic Credit Card, products that allow customers to connect third-party AI agents to their accounts to automate investing and spending decisions. The company said users can set conditions for AI agents to monitor markets, rebalance portfolios, execute trades and make purchases while guardrails such as spending limits, notifications and instant shutdown controls remain in place.
And on Thursday, the Trump Accounts app launched ahead of a broader rollout scheduled for July. Robinhood is serving as the brokerage and clearing partner for the program, which allows families to open investment accounts for children and, for eligible newborns, receive a $1,000 Treasury-funded contribution.
