- A popular financial broker splashed a large amount of money to buy 1.3 trillion Shiba Inu tokens.
- The new addition will bring their total SHIB holdings to more than 34 trillion tokens.
Shiba Inu is one of the tokens that many whales and investors are keen to splash money on. So, a popular financial broker, Robinhood, spent a large amount of money buying more Shiba Inu tokens.
Robinhood Bags More Shiba Inu Tokens
- Robinhood, a prominent U.S. financial market broker, isn’t giving up on its pursuit to invest in as many cryptocurrencies as possible. Previously, there were reports that the third largest Bitcoin holding belonged to Robinhood. This broker adding more Shiba Inu tokens to their portfolio comes from data from an on-chain monitoring platform. So, this new data shows that by the end of August, this broker added more to their Shiba Inu reserves.
- Robinhood Shiba Inu reserves are quite huge and take a large part of the SHIB token holdings. Apparently, the Robinhood Shiba Inu reserves had 32.85 trillion SHIB tokens before their latest purchase. Data from Arkham Intelligence indicates that between Aug. 1 and Sept. 1, Robinhood’s SHIB holdings rose from 32.85 trillion Shiba Inu tokens to 34.1 trillion. So, more than 1.3 trillion SHIB tokens were the addition made by this broker to their SHIB holdings.
- This is quite huge, representing the value Robinhood currently attaches to the Shiba Inu project. Having as much as over 34 trillion tokens from a massively growing crypto project is no joke and can turn to the benefit of the financial broker.
Shiba Inu Tokens Among Robinhood Largest Holdings
- According to data from Arkham Intelligence, Shiba Inu tokens take up quite a large amount of space in Robinhood’s crypto holdings. In fact, it is currently the top 3 in the crypto portfolio of this broker.
- The Shiba Inu Tokens represent an approximate value of $272.38 million, accounting for 4.26% of the crypto assets under this broker. Apparently, other cryptocurrencies are ahead of Shiba Inu in their crypto portfolio. But SHIB getting as far as the top 3 is something quite huge. So, the remaining top 2 are Bitcoin and Ethereum. The two make up 94.2% of their portfolio.
Shibarium Plays a Key Role in Latest Investments
- The recent investments in Shiba Inu tokens happened shortly after the Shibarium launch. Apparently, the launch of this layer 2 protocol is already bringing a lot of positives for the Shiba Inu ecosystem.
- According to data, the latest 1.3 trillion investment from Robinhood came within the dates of the Shibarium launch.
Conclusion
Robinhood is back with making crypto investments after they added as much as 1.3 trillion SHIB tokens to their already filled portfolio. So, this is quite massive for the financial broker and the Shiba Inu ecosystem. The investment serves as a result or reminder of the incredible work the SHIB developers are making within the past weeks. Furthermore, the Shibarium launch helped massively with these new investments.
