Shiba Inu Coin grew rapidly towards the back-end of 2021 as it hits the 1 million holders mark, but does Robinhood support or list SHIB?
After receiving a Coinbase listing in September 2021, and subsequent listings on Kraken and CoinDCX, SHIB holders are looking towards Robinhood to complete SHIB's listing collection.
Here’s a look at a potential SHIB listing on Robinhood.
Does Robinhood Support SHIB?
Robinhood does not support Shiba Inu Coin as of January 2022 and has not confirmed any plans to list SHIB in the future.
The exchange currently only supports seven cryptocurrencies. These are Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC) and Litecoin (LTC).
Instead, prospective SHIB holders will need to look to the likes of Binance, Coinbase, Gemini, and other exchanges to purchase SHIB.
Shiba Inu Robinhood Latest News And Rumours
Rumours of Robinhood supporting SHIB are constant in the SHIB community. However, most of these are simply that - rumours.
The latest rumour comes from right-wing political outlet Zero Hedge. Posting on Twitter, it claimed that Robinhood would list SHIB in February.
However, Zero Hedge provided no evidence of such a listing.
This is similar to countless other SHIB rumours we've seen in the past. Here's a collection of a few that didn't pay off.
Rumours in October were particularly strong about a Robinhood listing. However, 2021 came and went without a Robinhood listing.
Will Robinhood Add SHIB?
There’s no way of knowing what Robinhood’s plans are for a SHIB listing, but the demand is certainly there.
A Change.org petition asking Robinhood to list SHIB now has over 550,000 supporters. The petition notes the success Robinhood had with its Dogecoin listing, noting SHIB has similar potential. However, this is just a petition, supported by existing SHIB holders who likely hope this could help the price grow. So let's look at the facts about Robinhood.
BSV is the most recent addition to Robinhood’s crypto offerings. Robinhood began offering BSV in 2018 – the same year it listed Dogecoin. Suggestions that Robinhood needs to list SHIB because of its high ranking do not account for this, nor the fact the likes of Cardano, Solana, Polkadot and LUNA are also not on the platform.
The latest official comment from a Robinhood executive on Shiba Inu comes from its CFO, Jason Warnick.
When asked about new listings and Shiba Inu at The Wall Street Journal CFO Network Summit, Warnick said:
It’s not lost on us that our customers and others would like to see us add more coins. We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators.
Speaking about its listing process in November, Robinhood COO Christine Brown said: "Our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now."
However, Brown did also praise cryptocurrency communities. "One of my favourite things is seeing the community around these coins really engage with us and let us know what they want," she said.
There’s no knowing when Robinhood will end this dry spell of crypto listings (although it is ramping up its crypto wallet offerings). Even if Robinhood starts to support new cryptocurrencies, there’s no guarantee SHIB will be among the first coins added.
We’ll keep this page updated with any new information that comes out from Robinhood.
Read More: Shiba Inu Coin Roadmap: Every SHIB Update Coming In The Future