Robinhood Owns 5th Largest Ethereum Wallet in the World, According to Arkham

2 mins
Updated by Kyle Baird
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In Brief

  • Arkham Intelligence identified Robinhood as the owner of the world's fifth largest Ethereum wallet, with 1.49M ETH.
  • Robinhood's Ethereum holdings are valued at roughly $2.54B, with SHIB ($163M) ranking second within this wallet.
  • Arkham also revealed that Robinhood holds the third largest Bitcoin wallet globally, with approximately $3.43B in BTC.
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Arkham Intelligence recently discovered that Robinhood allegedly has the fifth-largest Ethereum wallet globally.

This news comes shortly after Arkham pinpointed Robinhood as the owner of the world’s third-largest Bitcoin wallet.

Robinhood’s Ethereum Holdings Revealed

Arkham Intelligence released findings that Robinhood holds approximately 1.493 million Ethereum, worth roughly $2.54 billion. Additionally, in a recent post on X (formerly Twitter), the blockchain investigation firm declared this is the fifth-largest holdings of Ethereum in the world.

Robinhood Wallet Screenshot. Source: Ark Invest X post
Robinhood Wallet Screenshot. Source: Arkham Intelligence

This particular wallet contains a range of other cryptocurrencies, such as Shiba ($163 million), Chainlink ($14.23 million), and Avalanche ($10.4 million), all held by Robinhood.

Upon the disclosure of the findings, a user raised the question of the funds’ actual owner.

“Is this their funds or user,” the user asked.

Arkham alludes to the SEC’s increasingly rigorous cryptocurrency regulations in recent times.

“Funds they hold in custody for user balances. SEC requires that crypto balances on RH are backed 1:1.”

Read more: Coinbase vs. Robinhood: Which Is The Best Crypto Platform?

Proof-of-Reserves and Latest Bitcoin Discovery

Over the past year, there has been a lot of talk about proof of reserves in the crypto industry. The SEC recently warned investors to be careful when looking at proof of reserve audit reports from crypto exchanges because they might not show the whole picture.

Binance, however, states that it is getting harder for crypto exchanges to secure auditors to do proof-of-reserve audits with all the regulatory scrutiny in the industry. Binance declared that even Big Four accounting firms are “unwilling” to carry out proof-of-reserve audits.

This comes after Robinhood’s recent news introducing a new feature, Ethereum swaps. Users can now easily exchange Ethereum-based tokens without having to actually hold ETH. The network fees for these swaps are taken from the users’ existing tokens.

Only a day ago, Arkham also revealed that Robinhood is the third-largest holder of Bitcoin. A wallet screenshot disclosed by Arkham displayed 122,567 Bitcoin, equating to around $3.43 billion.

Bitcoin Price Chart 1 Month. Source: BeInCrypto
Bitcoin Price Chart 1 Month. Source: BeInCrypto

At the time of publication, with Bitcoin’s price currently $27,250, this amount is worth $3.34 billion.

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
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