Robinhood CEO, Vlad Tenev, is optimistic about platform's potential, expects "nine figures" in annual revenue.
Tenev’s plan was announced in Robinhood’s quarterly earnings report.
Robinhood Crypto is now available in Nevada, the US.
Robinhood snagged the shares for $10.96 apiece – slightly under market value.
Apart from being a Bitcoin whale, Robinhood has also been identified as one the largest ETH holders.
This is how much SHIB is owned by Robinhood, according to on-chain data.
Robinhood had previously delisted several crypto assets which were classified as securities by the SEC.
Crypto revenue accounted for 16% of Robinhood's total transaction-based revenue in Q2, 2023.
Crypto and stock trading platform Robinhood is cutting staff as the firm struggles to maintain trading volumes and interest.
Robinhood said that the move comes as part of its regular review of crypto assets.