Robinhood Is The 5th Largest Ethereum (ETH) Wallet, Strategic Stashing?

A digital wallet associated with Robinhood, the United States-based portal allowing users to trade multiple instruments, including crypto without commission, is the fifth largest holder of Ethereum (ETH). According to Arkham Intelligence, an on-chain analytics platform, Robinhood controls 1.72 million ETH, worth $2.93 billion at current prices as of August 30.

Robinhood’s ETH holding: Arkham

It could not be immediately ascertained whether Robinhood directly owned these coins or if it custody them on behalf of clients. The trading and investing platform has not come out to clarify the status of their coins, including Bitcoin and Shiba Inu (SHIB), which form a big chunk of their portfolio.

However, based on on-chain data, what’s evident is that the Robinhood wallet cumulatively holds billions worth of coins.

Robinhood Holds Billions of Assets

To illustrate, Robinhood controls over $6.6 billion of crypto assets, of which over half comprise Bitcoin and Ethereum. Presently, they control $3.3 billion of BTC and, as aforementioned, $2.93 billion of ETH. There are also other coins in their possessions, including SHIB, worth $227 million; Chainlink (LINK), valued at $30 million; and Avalanche (AVAX), worth $29 million.