Robinhood says it has no plans to invest in Bitcoin

Despite strong demand from clients, the online broker Robinhood has no plans to allocate corporate funds to digital assets. This was stated at the conference The Wall Street Journal by the company’s chief financial officer Jason Warnick.

“We do not have compelling strategic reasons to invest a significant portion of corporate funds in cryptocurrencies,” he said.

According to Warnick, Robinhood has not yet expanded its list of supported cryptocurrencies, as the company wants to “see clarity” on digital-asset regulation.

When asked when the online broker would add Shiba Inu (SHIB) to its platform, the CFO replied:

“We do not discount that our clients would like to see us add new coins. We are a highly regulated company in a highly regulated industry, so we believe it is important to obtain more clarity from regulators.”

Warnick’s vague answer fueled speculation about a possible SHIB listing on Robinhood. In particular, posts on Twitter suggested the company would announce it as early as February.

SHIBA INU ROBINHOOD LISTING SAID TO COME AS EARLY IN FEBRUARY — SOURCE. $SHIB #SHIB

— BreakingCrypto (@BreakingCrypto5) January 12, 2022

Against the backdrop of renewed interest, the price of the meme cryptocurrency rose by 12%, according to CoinGecko. At the time of writing, SHIB was trading near $0.000032.

Back in October 2021, the price of Shiba Inu reached an all-time high, when Robinhood chief Vlad Tenev declined to confirm or deny reports of a potential listing.

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