The crypto market has undergone a significant structural shift over the past three years. Institutional capital is now firmly represented on balance sheets, regulatory frameworks across the US and Europe are becoming more defined, and digital assets are increasingly positioned within long-term investment portfolios.

In parallel with this shift, Robinhood is evolving from a retail-first brokerage into a hybrid multi-asset custody platform spanning both equities and digital assets.

Historically known for commission-free equity trading, the platform has steadily expanded into digital asset custody and now holds billions of dollars in customer crypto holdings.

This article examines the concept of crypto assets under custody, traces…