Robinhood is the fifth largest ether holder in the world, owning $2.54 billion in ether.

Robinhood is not only the third largest bitcoin holder in the world. According to specialist company Arkham, Robinhood also has the fifth largest ether crypto wallet in the world. “Our identification of Robinhood as the owner of the third-largest bitcoin wallet has been widely publicized,” Arkham revealed on Wednesday. “We also identified them as owners of the fifth largest ether wallet.”

Robinhood thus holds in a wallet 1.7 million ethers, weighing 2.54 billion dollars. Its portfolio ranks behind those of giant Binance, which holds $6 billion in ether across two wallets, and Kraken, holding $2.73 billion in ether. In total, Robinhood holds $6.6 billion in cryptocurrencies, including over $3.3 billion in bitcoin. The company also holds numerous altcoins, including $277.8 million worth of shiba inu. A holding that could allow it to compete with the major cryptocurrency players that are trading platforms.

A “super whale”

In fact, the actor, who comes from traditional finance, now stands out as a “super whale” of bitcoin and ether. Remember that these are however cryptos kept on behalf of its customers. Moreover, the company may well have kept cryptos in several wallets, which are not all necessarily identified.

Robinhood launched into cryptocurrency trading in 2019. The trading company intends to position itself against platforms such as Binance, Bitfinex and Kraken. Like all platforms offering this type of service, it has nevertheless suffered from the fall in cryptocurrency prices for several months (bear market also called “bear market”). Robinhood earned $31 million in trading revenue in the second quarter, compared to $38 million in the prior quarter.