Trading in cryptocurrencies will start in five US states in February – California, Massachusetts, Missouri, Montana and New Hampshire – with others to follow.
Robinhood, which has 2 million users and is valued at $1.3bn, says it will also be offering other altcoins in due course
As of this week, app users have been able to track market data for 16 cryptocurrencies.
No clear winner
“The thing we’re seeing now, over the past year is that crypto and Bitcoin are showing resiliency,” Robinhood co-founder and co-CEO Baiju Bhatt told CNN Money.
“So many times people have been quick to count it out. It has gone up and gone down. Now that resiliency is something that has some real staying power.”
He added: “It isn't clear which are going to emerge as the best and the way people invest in crypto today will not be the way they do in the future, but we aim to be a part of the future.”