Robinhood’s Bitcoin holdings surpass $9.5b, third only to Bitfinex and Binance
Robinhood’s cold storage address has emerged as the third-largest single Bitcoin wallet, boasting ownership of 0.69% of the total BTC supply.
Public fintech broker Robinhood turned out to be the owner of the third largest single Bitcoin wallet, holding over $9.5 billion worth of the crypto, Coinbase director Conor Grogan said in an X post, citing data from Arkham Intelligence.
According to the data, Robinhood controls nearly 0.7% of Bitcoin’s (BTC) total supply, third only to Bitfinex ($12.6 billion), and Binance ($17.4 billion). The Coinbase executive noted that over the past six months Robinhood’s Btcoin holdings increased by approximately 14%, increasing its share on the market.
Grogan also pointed out that over the past six months, Robinhood’s users decreased their holdings in Ethereum (ETH), with the company’s reserves of ETH declining by 9% over the same period.
“Retail users are beginning to come back to crypto, just not to ETH so far.”
Conor Grogan
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