Recently, Arkham Intelligence revealed that the popular stock and crypto trading platform Robinhood holds Ethereum (ETH) assets worth $2.5 billion. In a tweet on Wednesday, Arkham identified Robinhood as the owner of the fifth largest Ethereum wallet, which accumulates 1.5 million ETH equivalent to $2.54 billion.
This isn’t the first time Arkham’s data has delved into Robinhood’s crypto activities. In previous data, they identified Robinhood as the owner of the third largest Bitcoin (BTC) wallet, containing approximately 118,300 BTC valued at around $3 billion.
The Address Holds Various Crypto Assets
Beyond Ethereum, this address also hosts over 100 different ERC-20 tokens. Their collective value is roughly $177.1 million. Arkham explained that these funds are held for the benefit of Robinhood’s vast user base.
Top Ethereum Wallets That Surpass Robinhood
Robinhood’s Ethereum assets rank it as the fifth largest wallet. However, four other Ethereum addresses surpass it in volume. Among these top-tier addresses are Ethereum’s deposit contract, an Ether contract, and accounts associated with major cryptocurrency exchanges like Kraken and Binance. The beacon deposit contract holds the lion’s share with over 29 million ETH, worth approximately $49.7 billion. Impressively, this single address constitutes a full 25% of the entire available Ethereum.
Robinhood’s Other Crypto Holdings
A deep dive into Robinhood’s crypto activities by Arkham Intelligence uncovered that a wallet linked with Robinhood possesses 122,076 BTC, 34.1 trillion Shiba Inu (SHIB) tokens valued at $277.8 million, 4.9 million Chainlink (LINK) tokens worth about $29.7 million, and approximately 2.6 million Avalanche (AVAX) tokens valued at roughly $29.6 million.
Source: Cryptonews
