Robinhood, an American-based financial services company, recently added 140 billion SHIB tokens to its already robust and diversified crypto portfolio, placing the canine-themed crypto asset as the third-largest crypto asset in the trading platform’s custody.
Notably, the latest addition followed the trading platform’s adjustment to its investment strategy, which involved a decrease in Robinhood’s Bitcoin (BTC) holdings.
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A Look Into Robinhood’s Rich Crypto Portfolio
Data from renowned crypto market analysis firm Arkham Intelligence, revealing Robinhood’s diversified crypto portfolio, was shared on X by a pseudonymous user Lola.
#SHIB – Robinhood added more Shiba INU and now sitting at 36.91Trillion $SHIB which is equivalent to $339M USD
— Lola (@CryptoLollla) January 22, 2024
With this data below , they have more Shib than $AVAX and $LINK also so if people are laughing on your SHIB holding , just send them this screenshot 👇
Source :… pic.twitter.com/8FuC3PUjfT
The shared data revealed that Robinhood’s total digital assets holdings were worth $9,957,317,415.32. Bitcoin (BTC) made up most of the trading platform’s crypto portfolio with a total of about 130,928 BTC, valued at $41,002 per BTC, bringing the total worth to about $5.37 billion. BTC’s Total value reflected a decline of approximately $84.45M, while the price per token dropped by $645.
The next largest crypto holding in Robinhood’s possession was Ethereum (ETH). Data revealed that the portfolio contains about 1.631 million ETH, valued at $2,422.20 per coin and summing up to $3.95 billion; it reflected a drop of about $81.46 million.
Shiba Inu (SHIB) followed closely with 36.91 trillion SHIB, all valued at roughly 339.57 million, and mirrored a $12.92 million loss in total value.
Avalanche (AVAX) and Chainlink (LINK) completed the top five list, occupying the fourth and fifth places, respectively. Robinhood has about 3.956 million AVAX with a total worth of $126.44 million. LINK tokens on the trading platform’s portfolio were roughly 7.227 million, valued at $112.02 million.
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Robinhood’s Shiba Inu (SHIB) Accumulation Trends
After announcing the Shiba Inu (SHIB) listing on its trading platform in April 2022, Robinhood has since shown faith in SHIB’s propensity to become a sought-after token in the crypto sphere, evidenced by the investment’s firm trends of accumulating SHIB in large amounts.
In September 2023, we reported that Robinhood had added an incredible 14.086T SHIB tokens, bringing its total SHIB holdings to about 34.134 trillion with a total valuation of $272.73 million.
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Also, in January 2024, Robinhood added another 230 billion SHIB to its wallet, bringing the trading platform’s total SHIB holdings to about 36.684T. Notably, this SHIB tokens addition preceded the one highlighted in this insight.
Robinhood’s SHIB accumulation might indicate the trading platform’s interest in buying the dip while waiting for SHIB’s value to skyrocket. At the time of press, Shiba Inu (SHIB) is valued at about $0.0000088, boasting a market cap of $5,212,909,994 and a trading volume of $101,574,990.
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