Outstanding U.S.-based crypto trade Robinhood has introduced the itemizing of Arbitrum (ARB), an Ethereum Layer 2 answer with a market cap of $1.8 billion.
The trade confirmed the itemizing through its social media handles, noting that the ARB token is now tradable on its platform. ARB joins 22 different crypto belongings that Robinhood helps for buying and selling actions.
Different supported tokens embody XRP, Ethereum, Cardano, and even meme cash like Shiba Inu, BONK, and dogwifhat (WIF).
In the meantime, there are nonetheless a number of notable cash that Robinhood has but to checklist. Outstanding names amongst them embody TRON (TRX), BNB, and Algorand (ALGO). For these cash, the platform solely offers real-time market information with out supporting buying and selling actions.
Robinhood’s Itemizing Method
Robinhood is thought for its cautious strategy to listings. Prior to now, it has prevented itemizing even among the most distinguished crypto belongings available in the market, akin to XRP and Cardano, as a result of regulatory considerations.
Regardless of its regulatory warning relating to crypto asset listings, the platform confronted scrutiny from the U.S. SEC below the regulator’s earlier management.
Nevertheless, with a change in management, significantly the performing chair, Mark Uyeda, the SEC has dropped its investigations into Robinhood and pursued no enforcement actions after beforehand issuing a Wells discover.
In line with Dan Gallagher, Chief Authorized Officer, the investigations ought to by no means have occurred, stating that they had been a pointless train because the platform has at all times aimed to be in good standing with regulators.
Nonetheless, Robinhood expressed gratitude for the formal closure of the investigation and voiced optimism a few return to equity and readability from the SEC.
Amid these adjustments, Robinhood is now welcoming extra tokens, a few of which it had beforehand distanced itself from as a result of fears of regulatory actions from the SEC.
ARB Worth Soars
Following the announcement of ARB’s itemizing, the value of the token surged considerably. Particularly, the coin has risen by over 15%, buying and selling at $0.4220, up from the sooner intraday low of $0.3519.
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