Robinhood has put $25 million worth of bitcoin on its balance sheet, according to Johann Kerbrat, the company’s senior vice president and general manager for crypto and international. Kerbrat told The Block the purchase was intended to signal Robinhood’s commitment to the crypto sector and to align the company more closely with the crypto community. He said the position is small relative to Robinhood’s roughly $100 billion market capitalization and is not expected to materially alter the company’s current trajectory. The disclosure comes as Robinhood expands its crypto offering on several fronts. On Sept. 29, the company said it plans to roll out perpetual futures to eligible U.S. customers through Bitstamp in the coming months, with up to 10x leverage on bitcoin and ether, 3x on other assets, and a 0.01% trading fee through the end of the year. CEO Vlad Tenev also said on X that the contracts have no expiry and settle profit and loss every 15 minutes. Robinhood additionally launched the public mainnet of Robinhood Chain in July, while Kerbrat said the company has 28 million funded accounts and that its wallet is available in more than 120 countries.
Robinhood has added $25 million worth of bitcoin to its balance sheet, according to Johann Kerbrat, the company’s senior vice president and general manager for crypto and international businesses.
Kerbrat told The Block the purchase was meant to show Robinhood’s commitment to the crypto sector. 「We care deeply about bitcoin and the ecosystem around it. For us, it’s more aligning our company and our vision with the crypto community.」
A small allocation relative to Robinhood’s size
Kerbrat described the amount as modest for a company of Robinhood’s scale. He pointed to a market capitalization of around $100 billion and said $25 million in bitcoin is not going to change much about the company’s current trajectory.
The report also referenced Strategy, which holds bitcoin as a treasury asset. On Monday, Strategy said it bought 334 BTC for about $28.7 million between Oct. 1 and Oct. 4 at an average price of $85,838.80 per coin, bringing its total holdings to 848,000 BTC.
Part of a broader crypto expansion
On Sept. 29, Robinhood said it plans to offer perpetual futures to eligible U.S. customers through Bitstamp in the coming months. The product is set to offer up to 10x leverage on bitcoin and ether, 3x on other assets, and a 0.01% fee on each trade through the end of the year.
CEO Vlad Tenev said on X that the contracts have 「No expiry」 and that profit and loss is settled every 15 minutes.
Robinhood also launched the public mainnet of Robinhood Chain in July. Kerbrat told The Block that Robinhood has 28 million funded accounts, with 27 million of them in the U.S., and that its wallet, the official wallet for Robinhood Chain, is available in more than 120 countries.
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