Key facts
- Robinhood purchased $25 million of bitcoin for its corporate balance sheet.
- Johann Kerbrat, Senior Vice President and General Manager of Crypto and International at Robinhood, confirmed the purchase.
- The corporate holdings are separate from nearly $25 billion in customer-owned crypto assets.
- The disclosure was made during the Token2049 event in Singapore on October 7.
Robinhood has added $25 million of bitcoin to its corporate balance sheet, marking a significant milestone in its digital asset strategy. The commission-free trading platform confirmed the purchase on Wednesday, with Johann Kerbrat, Senior Vice President and General Manager of Crypto and International at Robinhood, making the announcement during the Token2049 event in Singapore on October 7.
This corporate holding is distinct from the nearly $25 billion in customer-owned crypto assets that Robinhood custodies for its users, which includes over 185,000 BTC valued at $15.6 billion. Kerbrat's confirmation came as he also discussed Robinhood's expansion plans and investment opportunities in the cryptocurrency market, including its recent crypto launch in the UK.
Robinhood CEO Vlad Tenev had previously indicated the company's interest in holding bitcoin on its balance sheet. The company has been actively developing and launching new products, such as Robinhood Chain and 24/7 tokenized stocks, aiming to bridge traditional brokerage services with on-chain markets.