- Robinhood is the fifth-largest holder of ETH, with an estimated $2.54 billion in the global market.
- A wide variety of other coins are also present in the wallet, including SHIB, Chainlink tokens, and Avalanche tokens.
- More functionality and asset support inside the Robinhood platform are being added.
According to blockchain analytics company Arkham Intelligence, Robinhood, a well-known participant in the Bitcoin (BTC) market, is the fifth-largest holder of Ethereum (ETH), with an estimated $2.54 billion in the global market. The wallet offered by Robinhood, which was once the third-largest BTC holder, is custodial in nature and holds assets on behalf of users.
A wide variety of other coins are also present in the wallet, including 34.1 trillion Shiba Inu (SHIB), which is worth approximately $277.8 million, 4.9 million Chainlink tokens, which are worth nearly $29.7 million, and 2.6 million Avalanche tokens, which are worth over $29.6 million.
Robinhood
Robinhood has been aggressive in meeting market demand despite a fall in the volume of crypto trading. The business announced an expansion of its wallet services on August 30 that will allow ETH swaps as well as “custody, send, and receive support” for BTC and Dogecoin (DOGE).
More functionality and asset support inside the Robinhood platform are being added as a result of this feature rollout, which was created in response to consumer requests.
An array of tokens, including COMP, MATIC, SHIB, SOL, UNI, and the USDC stablecoin, were available in Robinhood’s self-custody wallet at first, in addition to support for the ETH and Polygon (MATIC) networks.
Even as its crypto trading volume confronts difficulties, the company’s efforts to increase the range of its crypto offerings are a calculated move to remain relevant in the digital asset market.
