Robinhood Lists Arbitrum (ARB), Expanding Its Ethereum Layer 2 Solution Offerings

The exchange confirmed the listing via its social media handles, noting that the ARB token is now tradable on its platform.

Prominent U.S.-based crypto exchange Robinhood has announced the listing of Arbitrum (ARB), an Ethereum Layer 2 solution with a market cap of $1.8 billion.

The exchange confirmed the listing via its social media handles, stating that the ARB token is now tradable on its platform.

At present, Arbitrum joins 22 other crypto assets that Robinhood supports for trading activities. Among the supported tokens are XRP, Ethereum, Cardano, and even meme coins like Shiba Inu, BONK, and dogwifhat (WIF).

However, there are still several notable coins that Robinhood has yet to list. Prominent names among them include TRON (TRX), BNB, and Algorand (ALGO). For these coins, the platform provides real-time market data but does not support trading.

Known for its cautious approach to listings, especially due to regulatory concerns, the exchange has previously avoided listing even some of the most prominent crypto assets.

Despite this, the platform itself faced scrutiny from the U.S. SEC, specifically under the regulator’s previous leadership. However, following a change in leadership and the departure of Acting Chair Paul Sau aquella, the apex regulator has dropped its probe into the exchange and pursued no further enforcement actions after previously issuing a Wells notice.

According to Chief Legal Officer Dan Gallagher, these investigations should never have occurred and were a complete waste of time and taxpayer dollars. He further added that they were focused on doing the right thing and had no interest in engaging in any activity that would jeopardize their ability to continue providing service to their customers.

However, the platform is optimistic about a return to fairness and clarity in the application of the law from the SEC.

"We are grateful for the formal closure of the SEC's investigation into Robinhood. We continue to navigate a rapidly evolving legal and regulatory landscape in our efforts to expand the crypto assets we offer to trade. As part of this effort, we are pleased to announce that Arbitrum (ARB) is now available to trade on the platform," the statement reads.

Meanwhile, following the announcement of ARB’s listing, the price of the token has surged significantly. Specifically, the coin has risen by over 15%, trading at $0.4220, up from the earlier intraday low of $0.3519.