Robinhood, the American retail trading giant, has significantly increased its digital asset holdings over the past six months, according to an expert in blockchain analysis. Conor Grogan, the director of Coinbase, studied data from blockchain intelligence firm Arkham and estimated that Robinhood’s Bitcoin (BTC) stash has grown by 14%, bringing its total holdings to $23.59 billion. However, Grogan noted that Robinhood users’ Ethereum (ETH) holdings have actually decreased by about 9%. He suggested that while retail users are returning to cryptocurrencies, they have not shown the same interest in ETH. Grogan also found that Robinhood’s BTC wallet is the third largest in existence, trailing behind crypto exchanges Binance and Bitfinex. He added that Robinhood’s cold storage address possesses 0.69% of all BTC ever created. Grogan pointed out that Robinhood missed out on significant gains by not holding Solana (SOL) due to its classification as an unregistered security by the U.S. Securities and Exchange Commission (SEC). As of now, Bitcoin is trading at $71,869.
