Robinhood Markets Inc. has opened staking for Ether and Solana to its U.S. customers, marking the trading-app operator’s most significant crypto product expansion since regulators intensified scrutiny of the practice last year.
Retail investors can now lock as little as US$1 of either token in the Robinhood Crypto app, earning yields currently advertised at about 2.5% for Ether and 7.5% for Solana. The offering brings Solana back to the platform after Robinhood removed the token in 2023, when the U.S. Securities and Exchange Commission alleged it was an unregistered security.
Robinhood’s rollout comes in a tougher regulatory environment. The SEC sued Coinbase and reached a settlement with Kraken over unregistered staking services in 2023, prompting several exchanges to curtail similar products. By pressing ahead, Robinhood is betting that demand for passive yields on major blockchains will outweigh ongoing legal uncertainties.
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Source: https://thedefiant.io/news/cefi/robinhood-opens-ether-solana-staking-to-u-s-users-69f9c19a