Robinhood has relisted Solana (SOL), Cardano (ADA), and Ripple (XRP) on its platform, while also adding PEPE to its crypto offerings. This follows the earlier delisting of SOL, which came after the SEC classified the token as a security.
ADA and PEPE Rally After Relisting
Following the announcement, Cardano (ADA) surged by 7% within an hour, while PEPE gained nearly 20%. The rapid price increases reflect strong investor interest in these tokens, especially after being reinstated on a popular trading platform like Robinhood.
Robinhood’s Decision Reflects Regulatory Optimism
Back in 2023, Robinhood delisted Solana, Cardano, and XRP due to regulatory pressures. The SEC had filed lawsuits against major crypto firms like Coinbase, accusing them of selling unregistered securities. Robinhood’s move was part of its effort to comply with these regulations. However, the recent relisting suggests the platform is adapting its policy in anticipation of potential changes after the US election.
Johann Kerbrat, VP of Robinhood Crypto, stated, “We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering.”
Trump’s Election Victory and Regulatory Outlook
With Donald Trump’s win in the latest election, the SEC is expected to undergo significant changes in 2025. Trump is reportedly considering pro-crypto leaders for key positions in the US Treasury and the SEC, signaling a potential shift towards more favorable regulations.
Crypto Trading Boosts Robinhood’s Revenue
Crypto trading has played a crucial role in Robinhood’s financial growth this year. In its Q3 2024 earnings report, the company revealed that crypto trading volumes reached $14.4 billion, marking a 114% increase compared to the same period last year. The surge in trading volumes highlights the growing interest in digital assets among Robinhood users.
