Robinhood Now Lists XRP, SOL, ADA, And PEPE

Robinhood Expands Crypto Offerings with XRP, SOL, ADA, and PEPE

Robinhood (HOOD), the popular stock and crypto trading platform, has significantly expanded its cryptocurrency lineup for U.S. customers. This announcement comes just a week after the elections signaled a potentially more favorable regulatory environment for the crypto industry.

The platform now offers trading in Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP (XRP), bringing the total number of cryptocurrencies available to U.S. users to 19. Robinhood made the announcement in a blog post on Wednesday morning.

Coinbase (COIN), which previously offered these new additions, has also included PEPE in its offerings. The announcement led to modest increases in the price of the aforementioned cryptocurrencies, along with Bitcoin, which reached a new all-time high of over $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," said Johann Kerbrat, vice president and general manager of Robinhood Crypto.

The news comes as President-elect Donald Trump is set to take office in January. Trump has stated his support for innovation in the crypto space and has promised to remove SEC Chair Gary Gensler, who has been critical of the industry.

Last year, Robinhood suspended support for several tokens, including SOL and ADA, after they were identified as securities in a lawsuit filed by the SEC against Binance and Coinbase. Industry leaders are calling for clearer guidance from the SEC on which tokens will be classified as securities.

The SEC, under Gary Gensler, has provided limited direction on this matter but has pursued legal action against crypto exchanges for allegedly violating federal securities laws by trading unregistered securities.