Robinhood, the American retail trading giant, has reportedly seen significant growth in its digital asset holdings over the past six months. According to Conor Grogan, a director at Coinbase, Robinhood’s Bitcoin (BTC) stash has increased by 14%, bringing its total holdings to $23.59 billion. However, Grogan notes that Robinhood users’ Ethereum (ETH) holdings have actually decreased.

Based on Grogan’s analysis of data from blockchain intelligence firm Arkham, he believes that Robinhood’s BTC wallet is now the third largest in existence, trailing behind crypto exchanges Binance and Bitfinex. Grogan emphasizes that these figures are estimates compiled using Arkham’s data and some of his own research. He adds that Robinhood’s cold storage address is the third largest single BTC wallet, accounting for 0.69% of all BTC ever created.

Grogan also highlights that Robinhood missed out on a significant gain of 1,300% by not holding Solana (SOL). The company chose to avoid SOL due to its classification as an unregistered security by the U.S. Securities and Exchange Commission (SEC).

As of the time of writing, Bitcoin is trading at $71,869.

Please note that The Daily Hodl does not provide investment advice, and investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not an investment advisor.