Robinhood lists SHIB, AVAX, COMP for trading in New York

Business•April 24, 2024, 11:05AM EDT
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Robinhood lists SHIB, AVAX, COMP for trading in New York

Quick Take

  • New Yorkers can trade SHIB, COMP and AVAX on Robinhood, beginning on Wednesday.
  • Empire State residents can now buy and sell a total of 11 cryptocurrencies on the platform.
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Robinhood has opened trading of Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP) for New York residents.

The latest batch of listings bring Robinhood's total number of tradable tokens in the Empire State to 11: New Yorkers can buy and sell bitcoin (BTC), ether (ETH), dogecoin (DOGE), Shiba Inu, Avalanche, bitcoin cash (BCH), chainlink (LINK), litecoin (LTC), ethereum classic (ETC), aave (AAVE) and compound, according to the company's email to New York residents, which was seen by The Block.

This isn't the first time Robinhood has shaken up its cryptocurrency offerings. Last June, the trading platform delisted three token cryptocurrencies — Cardano (ADA), Polygon (MATIC), and Solana (SOL) — shortly after the U.S. Securities and Exchange Commission declared them securities.

AVAX, SHIB and COMP fell modestly on the news, with their prices ticking down between roughly 2% and 4%, The Block's price data shows. AVAX is trading at $37.48 as of the time of writing, while SHIB and COMP are trading at $0.000026 and $58.35, respectively.