Robinhood has put approximately $25 million worth of bitcoin on its corporate balance sheet, adding the financial services company to the expanding list of public firms holding BTC as a treasury asset.

Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, disclosed the purchase Wednesday during an interview for The Starting Block at the Digital Asset Summit (DAS) Asia conference.

Kerbrat said the bitcoin allocation demonstrates how closely Robinhood identifies with bitcoin and its surrounding ecosystem.

“Robinhood is a massive company at this point, with a market cap in the $100 billion [range]. So the $25 million worth of bitcoin is not going to change a lot of the current trajectory of the company,” he said.

CoinDesk also contacted Robinhood’s press team for clarification on whether the company expects to make further bitcoin purchases or add other digital assets to its treasury.

Robinhood’s purchase comes as corporate bitcoin holdings continue to expand. Strategy, the Nasdaq-listed company formerly known as MicroStrategy, began its bitcoin accumulation strategy in 2020, and more than 170 companies worldwide have since followed with BTC treasury holdings. Tesla, Block, MARA Holdings, CleanSpark and Riot Platforms are among the other companies with substantial bitcoin positions, collectively holding well above 1.2 million BTC.

Robinhood already operates a sizable crypto business, with more than 28 million funded customers worldwide. In July, it also launched Robinhood Chain, an Ethereum-compatible Layer 2 network developed on Arbitrum and aimed at tokenized real-world assets and decentralized finance.

Since the network’s mainnet launch, Robinhood has introduced tokenized stocks, the USDG stablecoin and yield-generating lending through Robinhood Earn. It has also integrated with major DeFi and blockchain infrastructure projects, including Uniswap, Chainlink, Alchemy and BitGo.