Robinhood Adds SOL, PEPE, ADA, XRP Following Trump Victory

Trading app Robinhood has added Solana, Pepe, Cardano and XRP to the list of cryptocurrencies available to trade on its platform.
Coinbase, which has previously offered the trading of Solana, Cardano and XRP, also added Pepe on Wednesday.
The move comes one week after crypto-friendly Donald Trump’s win in the presidential election and the promises of a more welcoming regulatory environment.

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Stock and crypto trading platform Robinhood (HOOD) has added sizably to the number of cryptocurrencies available to trade for U.S. customers just one week after elections appeared to usher in a far friendlier regulatory environment for the industry.

With the introduction of Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP), Robinhood will now offer trading in 19 cryptocurrencies for its American clientele, the company said in a blog post Wednesday morning.

Coinbase (COIN) — which already offered all of the HOOD additions — joined Robinhood in adding PEPE to its platform.

All of the named cryptos moved modestly higher alongside the announcements, as did bitcoin, which printed a new record high above $91,000.

“We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering,” Johann Kerbrat, vice president and general manager of Robinhood Crypto, said.

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The news comes as President-elect Donald Trump, who is set to take office in January, is expected to push very little against crypto-related innovation. Among his pre-election promises was the firing of crypto-gadfly U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.

Last year, Robinhood ended support for several tokens, including SOL and ADA, after some of them were named as securities in a lawsuit by the SEC against Binance and Coinbase.

Industry leaders are hoping for more clarity from the SEC on which tokens will be considered a security and which won’t. The current SEC under chair Gary Gensler has not given firms any guidance on the topic. It has, however, sued crypto exchanges for allegedly violating federal securities laws by offering unregistered securities.

Edited by Stephen Alpher.