Bitcoin

Arkham

April

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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 <a href="https://crypto.news/tag/robinhood/" target="_blank" rel="noopener noreferrer nofollow">Robinhood</a> 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 <a href="https://x.com/jconorgrogan/status/1777017427571658807" target="_blank" rel="noopener noreferrer nofollow">an X post</a>, citing data from Arkham Intelligence.
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 All are estimates pulled together with <a href="https://twitter.com/ArkhamIntel?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ArkhamIntel</a>'s tags as well as a few of my own Robinhood's cold storage address is the 3rd largest single BTC wallet, owning .69% of all BTC ever made <a href="https://t.co/NO5WC3z4AT" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NO5WC3z4AT</a>— Conor (@jconorgrogan) <a href="https://twitter.com/jconorgrogan/status/1777017427571658807?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 7, 2024</a>
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According to the data, Robinhood controls nearly 0.7% of Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) 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 (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>), with the company’s reserves of ETH declining by 9% over the same period.
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 “Retail users are beginning to come back to crypto, just not to ETH so far.”
 Conor Grogan
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You might also like: <a href="https://crypto.news/robinhood-opens-all-11-spot-bitcoin-etfs-for-trading/" rel="noopener noreferrer nofollow"> Robinhood opens all 11 spot Bitcoin ETFs for trading </a>
Since the beginning of 2024, Bitcoin has experienced over a 70% increase in value, reaching a new all-time high of $73,750 in March. In contrast, Ethereum’s returns have been more modest, with a surge of only 58% and failing to reach its previous high of $4,890 set in late 2021.
In February, Bitcoin benefited from the <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="noopener noreferrer nofollow">approval</a> of spot Bitcoin exchange-traded funds (<a href="https://crypto.news/tag/bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a>) by the U.S. Securities and Exchange Commission, which was granted in late January. Additionally, the largest crypto by market capitalization is poised to undergo <a href="https://crypto.news/learn/bitcoin-halving-what-it-is-and-how-it-may-affect-the-price/" target="_blank" rel="noopener noreferrer nofollow">its fourth halving</a> in a few weeks, a development often seen as a catalyst for future positive price movements.
Read more: <a href="https://crypto.news/dogwifhats-wif-jumps-7-following-listing-on-robinhood-crypto/" rel="noopener noreferrer nofollow"> Dogwifhat’s WIF jumps 7% following listing on Robinhood Crypto </a>

Robinhood’s Bitcoin holdings surpass $9.5b, third only to Bitfinex and Binance

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