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Shiba Inu, Solana Tokens Among 4 Added to Robinhood

SHIB, SOL, Polygon’s MATIC and Compound’s COMP tokens were added to Robinhood Crypto.

By Shaurya Malwa, Michael Bellusci
AccessTimeIconApr 12, 2022 at 11:38 a.m. UTC
Updated May 11, 2023 at 5:29 p.m. UTC
Shiba inu coin can now be traded on Robinhood. (Pixabay)
Shiba inu coin can now be traded on Robinhood. (Pixabay)
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Four popular cryptocurrencies, including the tokens of Shiba Inu and Solana, have been listed on the trading platform Robinhood, the website shows.

A blog post on Robinhood's website later confirmed the offerings.

  • SHIB, SOL, Polygon's MATIC and Compound's COMP tokens were added to Robinhood Crypto, the platform's crypto-focused trading platform.
  • SHIB prices surged some 7% in the past hour, data from CoinGecko shows. It is the second memecoin to be listed on Robinhood, alongside Dogecoin's DOGE. COMP jumped 6.6%, MATIC added 3.5% and SOL 2%.
  • "As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform," Robinhood's chief brokerage officer, Steve Quirk, said in the company's blog post.
  • He added that the assets are available to buy and sell now on the Robinhood app, but deposits and withdrawals for them won't be available immediately.
  • The additions come after the company said last week it activated its crypto wallet for 2 million eligible customers, making digital asset transfers broadly possible in the investments app.
  • Speculation centered last year around potential crypto offering additions from Robinhood, though CEO Vlad Tenev had told investors the company would await regulatory clarity before doing so.
  • Robinhood already offered seven cryptocurrencies including bitcoin (BTC), ether (ETH) and dogecoin (DOGE).

UPDATE (April 12, 13:01 UTC): Adds link to Robinhood's blog post and company comment.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Shaurya Malwa
Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Follow @shauryamalwa on Twitter
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Michael Bellusci

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Follow @mikeybellusci on Twitter

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