Robinhood Allocates $25 Million to Bitcoin

Robinhood has allocated $25 million of its own capital to Bitcoin, the brokerage’s crypto chief, Johann Kerbrat, said on October 7, describing the move as a way to align the company with the crypto community and diversify its assets. The allocation marks a shift from holding digital assets for customers to putting company funds directly into Bitcoin, though Robinhood has not said whether it will make further purchases. Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, announced the allocation in remarks reported on October 7. He characterized the position as small relative to the company’s size and said it would not materially change its trajectory. The company has not disclosed how many Bitcoin the $25 million represents, and the supplied reporting does not establish the exact coin count. Robinhood reported $5.362 billion in cash and cash equivalents as of June 30, according to its second-quarter filing. The Bitcoin allocation is less than 0.5% of that amount. The filing figure provides a comparison of scale, but does not confirm the Bitcoin holding itself; the reports describe the allocation through Kerbrat’s statements.