The popular zero-commission trading app Robinhood has expanded its cryptocurrency offerings by adding support for Ethereum Classic (ETC), marking another significant step in mainstream crypto adoption. Available now to users across 19 U.S. states, the update allows customers to buy, sell, and hold ETC directly within the app—continuing Robinhood’s strategy of broadening access to digital assets.
This move positions Robinhood as a growing player in the crypto space, offering a streamlined experience for both novice and experienced investors looking to diversify their portfolios with established blockchain networks.
Expanded Crypto Access with No Trading Fees
As of August 6, Robinhood Crypto officially launched ETC trading, enabling users to invest in one of the longest-running smart contract platforms still active today. Ethereum Classic emerged from a 2016 hard fork of Ethereum following the infamous DAO hack, preserving the principle of immutability—"code is law"—even in the face of major disruptions.
With this addition, Robinhood now supports six major cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Ethereum Classic (ETC)
In addition to trading capabilities, the app provides real-time price tracking for over 10 other digital assets, giving users broader market visibility without requiring third-party tools.
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Strategic Growth Across U.S. Markets
Since its initial rollout in February 2018—starting with Bitcoin and Ethereum in just four states—Robinhood Crypto has steadily expanded its footprint. The platform added Litecoin and Bitcoin Cash in July, followed shortly by Dogecoin, demonstrating a clear pattern of incorporating high-demand and community-driven coins.
Currently accessible in 19 U.S. states, Robinhood continues working toward nationwide availability, navigating state-by-state regulatory requirements. Each new listing reflects not only user demand but also an effort to balance innovation with compliance.
The company operates its crypto division on a break-even basis, with no immediate plans to monetize transactions. Instead, Robinhood focuses on user acquisition and engagement, aiming to build long-term value through scale.
Funding Momentum and Future Roadmap
Robinhood’s commitment to crypto growth was reinforced in May when it raised $363 million in a Series D funding round, valuing the company at $5.6 billion—a fourfold increase from the previous year. This capital injection supports expansion efforts, including technology development, regulatory compliance, and potential new features.
Recent job postings for cryptocurrency engineers have fueled speculation that Robinhood may be developing a non-custodial crypto wallet. Such a feature would give users full control over their private keys and enable direct transfers to external wallets—something currently not supported on the platform.
While no official launch date has been announced, internal developments suggest that self-custody solutions could be on the horizon, aligning Robinhood more closely with decentralized finance (DeFi) principles.
Market Reaction to ETC Listings
The addition of ETC to Robinhood comes amid growing institutional and retail interest in the asset. According to CoinMarketCap data, Ethereum Classic surged nearly 5% within 24 hours of the announcement, reaching a price of $18.34 and ranking as the 12th largest cryptocurrency by market capitalization.
This momentum echoes earlier market reactions—most notably when Coinbase announced plans to list ETC earlier in June. That news triggered a 25% spike in ETC’s price, underscoring how exchange listings can significantly influence investor sentiment and liquidity.
Coinbase has since completed final testing for ETC integration, with Coinbase Pro set to enable internal transfers starting August 7. These developments collectively signal increasing recognition of Ethereum Classic as a legitimate and resilient blockchain network.
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Why Ethereum Classic Matters
Unlike Ethereum (ETH), which transitioned to proof-of-stake in 2022, Ethereum Classic maintains a proof-of-work consensus mechanism, appealing to purists who value decentralization and resistance to censorship. Its continued operation showcases the viability of maintaining an immutable ledger—even after contentious forks.
For investors, ETC offers exposure to a blockchain with historical significance, active development, and growing use cases in areas like decentralized applications (dApps) and smart contracts.
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Frequently Asked Questions (FAQ)
Q: Can I transfer Ethereum Classic from Robinhood to an external wallet?
A: Not currently. Like other cryptocurrencies on Robinhood, ETC holdings are custodial—meaning you cannot withdraw them to an external wallet. This limitation may change if Robinhood launches its own crypto wallet in the future.
Q: Is Robinhood Crypto available in all U.S. states?
A: No. As of now, Robinhood Crypto is available in 19 U.S. states. Availability varies due to differing state regulations around digital asset trading.
Q: Does Robinhood charge fees for crypto trades?
A: No. All cryptocurrency trades on Robinhood are commission-free. However, the platform earns revenue through payment for order flow and spreads.
Q: How did ETC’s price react to being listed on major exchanges?
A: ETC saw a 25% price increase after Coinbase announced its upcoming listing in June 2018. Similarly, inclusion on Robinhood contributed to a short-term price bump, highlighting the impact of exchange visibility.
Q: What makes Ethereum Classic different from Ethereum?
A: Ethereum Classic is the original chain that maintained proof-of-work after the 2016 DAO fork. Ethereum (ETH) moved forward under a revised chain with community-backed changes. ETC emphasizes immutability and decentralization.
Q: Will Robinhood add more cryptocurrencies in the future?
A: While no official roadmap exists, Robinhood has consistently added popular coins based on demand and infrastructure readiness. A self-custody wallet could pave the way for broader token support.
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