Robinhood Markets owns one of the largest bitcoin wallets in the world, according to blockchain analytics firm Arkham Intelligence, the latest sign that the discount brokerage has become a major player in the fight for crypto traders.
As of 28 August, the wallet contained about $3.1bn worth of bitcoin, likely on behalf of Robinhood’s customers. That probably represents the bulk of Robinhood’s holdings in the token. At the end of June, Robinhood’s customers owned about $4.2bn in bitcoin, along with another $7.3bn in other cryptocurrencies such as Ether and Dogecoin, the company said in its earnings report earlier this month.
