Robinhood: “Bitcoin is our most-traded cryptocurrency ahead of IPO”

t’s probably no surprise, but Robinhood said bitcoin was the most-traded cryptocurrency on its trading platform in 2020. In fact, bitcoin hit over $54 billion in daily average market volume as of March 2021, the company said in an amended US Securities and Exchange Commission filing on Monday.

The S-1 form revealed bitcoin grew 575% on the trading platform from about $8 billion in February 2018 to $54 billion in March 2021, Robinhood said.

The company has about 17.7 million active users, with over 50% of its customers being first-time investors and a cumulative $81 billion in assets under custody, it said.

Robinhood is seeking a market valuation as high as $35 billion through its initial public offering, the filing shows, up 199% from its last private market valuation of $11.7 billion in September 2020.

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