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Robinhood’s venture fund, which gives investors access to private companies, tanks 11% on first day

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Robinhood's venture fund, which gives investors access to private companies, tanks 11% on first day

Robinhood signage during a media event at John F. Kennedy International Airport (JFK) in New York, US, on Wednesday, March 4, 2026.

Adam Gray | Bloomberg | Getty Images

Robinhood’s Venture Fund I plunged 11% in its public market debut on the New York Stock Exchange on Friday, casting doubt on investors’ appetite for riskier investment amid swirling geopolitical tensions.

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The fund, which is trades under the ticker RVI, offers exposure to notable private companies such as financial services firm Revolut and software company Databricks. It aims to democratize access to an area of capital markets that has often been off limits to retail investors, Robinhood CEO Vlad Tenev told CNBC’s “Squawk on the Street” on Friday.

“You have companies that are out there at valuations in the hundreds of billions, even getting into the trillions in private markets before retail investors get a chance to come in at all and this is happening more and more,” Tenev said. “We’re trying to solve this by not just opening the door to private markets but completely blowing them off the hinges so that they can never be closed.”

Retail investors can buy and sell shares of the closed-end fund, which is structured like an investment firm, much like they would shares of a traditional company.

However, the launch comes during a tough time for public markets. The major U.S. stock averages are on pace for weekly declines as traders sell equities on fears the U.S.-Iran conflict could continue longer than anticipated.

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Robinhood Ventures Fund priced its initial public offering at $25 per share. It opened at $22 and hit a low of $21 before trading around back around $22.12.

RVI were last trading at $22.17 per share.

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Crypto World

Bitcoin Dip May Not Be Over As Retail Ramps Up Buying: Santiment

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Cryptocurrencies, Bitcoin Price, Adoption

Retail investors have been scooping up Bitcoin after it slipped below $70,000, but whale activity suggests the price could still head lower if past patterns repeat, according to crypto sentiment platform Santiment.

“The moment Bitcoin hit $74k, these key stakeholders began taking profit,” Santiment said in a report on Friday.

Santiment explained that whales — those holding between 10 and 10,000 Bitcoin (BTC) — “accumulated heavily” between Feb. 23 and Mar. 3, when Bitcoin was trading between $62,900 and $69,600.

Cryptocurrencies, Bitcoin Price, Adoption
Whales (green line) have been selling, while retail investors (red line) have been buying more Bitcoin. Source: Santiment

Since Wednesday, when Bitcoin climbed past $70,000 and touched $74,000, the cohort has offloaded around 66% of their recent purchases, Santiment said. Meanwhile, retail investors — those holding below 0.01 Bitcoin — have been increasing their positions.

Correction may not be over yet, says Santiment

“When retail buys while whales sell, it typically signals that the correction is not yet over,” Santiment said. Bitcoin is trading at $67,984 at the time of publication, according to CoinMarketCap.

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Bitcoin’s price decline led the Crypto Fear & Greed Index to fall 6 points, pushing it further into “Extreme Fear” territory with a score of 12 on Saturday.

MN Trading Capital founder Michael van de Poppe shared a similar outlook, saying a further decline is possible. “If Bitcoin doesn’t find support in this $67-68K region, then we’re likely going to retest the lows for liquidity before bouncing back upwards,” van de Poppe said in an X post on Friday.

Spot Bitcoin ETFs post largest outflow day in three weeks

The decline coincided with US-based spot Bitcoin ETFs posting their largest outflow day since Feb. 12, with a total of $348.9 million in net outflows across the 11 ETF products, according to Farside data.

Related: Trump’s National Cyber Strategy pledges to support crypto and blockchain

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Bitcoin’s price fell as low as $60,000 on Feb. 6 during its downtrend from the October all-time high of $126,000 before showing a modest recovery. Economist Timothy Peterson suggests this level could be the floor for the time being.

“This valuation level has always marked a bottom for Bitcoin. About 99.5% chance it stays above $60k,” Peterson said in an X post, referring to the Bitcoin Price to Metcalfe Value chart.

Magazine: The debate over Bitcoin’s four-year cycle is over: Benjamin Cowen