Robinhood Adds SOL, PEPE, ADA, XRP Following Trump Victory

Election 2024 coverage presented by
Stock and crypto trading platform Robinhood (HOOD) has added sizably to the number of cryptocurrencies available to trade for U.S. customers just one week after elections appeared to usher in a far friendlier regulatory environment for the industry.
With the introduction of Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP), Robinhood will now offer trading in 19 cryptocurrencies for its American clientele, the company said in a blog post Wednesday morning.
Coinbase (COIN) — which already offered all of the HOOD additions — joined Robinhood in adding PEPE to its platform.
All of the named cryptos moved modestly higher alongside the announcements, as did bitcoin, which printed a new record high above $91,000.
“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,” Johann Kerbrat, vice president and general manager of Robinhood Crypto, said.
The news comes as President-elect Donald Trump, who is set to take office in January, is expected to push very little against crypto-related innovation. Among his pre-election promises was the firing of crypto-gadfly U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.
Last year, Robinhood ended support for several tokens, including SOL and ADA, after some of them were named as securities in a lawsuit by the SEC against Binance and Coinbase.
Industry leaders are hoping for more clarity from the SEC on which tokens will be considered a security and which won’t. The current SEC under chair Gary Gensler has not given firms any guidance on the topic. It has, however, sued crypto exchanges for allegedly violating federal securities laws by offering unregistered securities.
Edited by Stephen Alpher.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk’s Markets Daily show. Helene is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.