• Robinhood has listed Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP) for trading in New York.
• New Yorkers can now trade a total of 11 cryptocurrencies on the Robinhood platform.
• AVAX, SHIB, and COMP prices fell modestly after the listing announcement.
Robinhood has expanded its cryptocurrency offerings for New York residents by adding support for Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP). This brings the total number of tradable cryptocurrencies on the platform to 11 for Empire State traders.
New Listings
The latest additions allow New Yorkers on Robinhood to now buy and sell SHIB, AVAX, and COMP in addition to the previously listed Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Chainlink, Litecoin, Ethereum Classic, and Aave.
Robinhood’s Changing Crypto Lineup
This isn’t Robinhood’s first shakeup of supported cryptocurrencies. Last June, the trading app delisted Cardano, Polygon, and Solana shortly after the SEC declared them as securities.
Minor Price Impacts
The newly listed tokens saw modest price declines of 2-4% following the Robinhood announcement. At the time of writing, AVAX traded at $37.48, SHIB at $0.0000026, and COMP at $58.35.
Conclusion
The latest listings show Robinhood’s continued expansion of tradable cryptocurrencies for its users, now including 11 different tokens for New York residents. The company has demonstrated a willingness to tailor offerings in response to evolving regulatory guidance. It remains to be seen if additional coins will be added as Robinhood works to broaden cryptocurrency access.
