It’s been a big week for Coinbase. The popular cryptocurrency exchange made its public debut on the NAsdaq stock exchange Wednesday, April 14.
The highly anticipated move sent Coinbase shares soaring, with the stock closing its first day of trading at $381.54, up nearly 30% from its reference price of $250.
The listing makes Coinbase the first major cryptocurrency exchange to go public in the U.S.
and is seen as a major milestone for the wider adoption of digital assets.
Now, investors are wondering if they’ll be able to buy Coinbase stock on Robinhood, the commission-free investing app that has helped popularize trading among younger investors.
Unfortunately, it doesn’t look like Robinhood will be offering Coinbase stock anytime soon. In a blog post published Wednesday, April 14, Robinhood said it had no plans to add any new coins or tokens to its platform in the near future.
“We’re focused on building the best experience for our customers and we don’t have any immediate plans to add new coins or tokens,” Robinhood said in the post.
While Robinhood didn’t mention Coinbase by name, the timing of the announcement suggests that the decision was likely made in response to the exchange’s highly anticipated public debut.
That’s not to say that Robinhood will never offer Coinbase stock. The company has been known to change its mind on occasion, so there’s always a possibility that it could add support for the stock down the line.
For now, though, it looks like Robinhood users will have to look elsewhere if they want to trade Coinbase shares.