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Arkham Identifies Robinhood as the Fifth-Largest Holder of ETH

Arkham Identifies Robinhood as the Fifth-Largest Holder of ETH

Arkham Intelligence has identified Robinhood as the owner of the fifth-largest Ethereum (ETH) wallet, which contains approximately $2.54 billion worth of ETH. This comes after Arkham previously recognized Robinhood as the owner of the third-largest Bitcoin wallet. The wallet associated with Robinhood also holds other cryptocurrencies, including BTC, Shiba Inu (SHIB), Chainlink (LINK), and Avalanche (AVAX). Despite its prominence in stock trading, Robinhood’s cryptocurrency trading activity has declined recently. However, the company announced the expansion of its wallet product to include custodial, sending, and receiving capabilities for Bitcoin and Dogecoin in response to user demands.

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