The Coinbase executive pointed out that in the last six months, Robinhood’s Bitcoin holdings grew by about 14%, which increased its market share. He also observed that retail users are returning to cryptocurrency, but not yet to Ethereum. Since the start of 2024, Bitcoin’s value has risen by over 70%, reaching a new all-time high of $73,750 in March. Ethereum, on the other hand, has seen more modest returns, with an increase of only 58% and failing to reach its previous high of $4,890 set in late 2021.
Robinhood’s Bitcoin holdings exceed $9.5 billion, ranking third behind Bitfinex and Binance.
