Bernstein highlighted Robinhood’s restricted crypto choices to date. The platform has listed solely 19 tokens and prevented staking, lending, derivatives, or stablecoin-related income streams. Nevertheless, analysts imagine this might change underneath a pro-crypto SEC, significantly if led by a brand new administration.
“We see Robinhood as the most important winner of regulatory modifications favoring crypto,” wrote analyst Gautam Chhugani. This might imply a big improve within the variety of tokens listed by the corporate to broaden its income streams together with new crypto providers.
This must also strengthen its place after the current acquisition of Robinhood from widespread crypto alternate Bitstamp. In keeping with Bernstein, the deal will lastly permit the platform to supply superior providers. These embody staking, lending, and entry to stablecoins.
Following political modifications final week within the U.S., Robinhood added 4 cryptocurrencies to its lineup. These are Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP (XRP). The platform now helps 19 cryptocurrencies for U.S. customers.
Analysts imagine that the mixture of regulatory modifications and strategic strikes, just like the one with Bitstamp, will allow Robinhood to capitalize on the evolving crypto market.