Commission-free trading platform Robinhood has added $25 million of Bitcoin to its corporate balance sheet for the first time. Johann Kerbrat, Senior Vice President and General Manager of Crypto and International at Robinhood, confirmed the purchase during the Digital Asset Summit and Token2049 event in Singapore.
This corporate acquisition is separate from the nearly $25 billion in customer-owned crypto assets that Robinhood holds in custody wallets for users, which includes over 185,000 BTC valued at $15.6 billion. The milestone follows previous statements from Robinhood CEO Vlad Tenev regarding the company actively considering holding Bitcoin on its balance sheet.
During his appearance at Token2049, Kerbrat also discussed Robinhood's ongoing expansion plans, including a recent crypto launch in the UK allowing users to manage retirement, brokerage, and crypto assets within a single application. The company continues to develop products such as Robinhood Chain, 24/7 tokenized stocks, and perpetual futures to bridge traditional brokerage and on-chain markets.
Following the disclosure, Bitcoin recovered some of its losses, trading near $84,280 with a 24-hour range between $83,647 and $86,648. Trading volume increased by 16% over a 24-hour period amidst market liquidations and investor anticipation of upcoming FOMC Meeting Minutes.
