- Robinhood shares surge 11.5% to $35.20 pre-market on SEC approval.
- Fear & Greed Index at 23 signals extreme fear; BTC at $74,682.
- Crypto market cap $2.67T; XRP up 2.1% to $1.39.
Robinhood Markets secured Robinhood SEC approval for crypto custody services on April 16, 2026, per SEC filings. Shares surged 11.5% pre-market to $35.20. The approval enables compliant self-custody for digital assets.
Investors reacted strongly. Trading volume rose 250% above average, Yahoo Finance data shows. The filing resolves prior regulatory concerns on wallet security, Bloomberg reports.
Crypto Market Steady Amid Extreme Fear
Alternative.me's Fear & Greed Index fell to 23, indicating extreme fear. Bitcoin traded flat at $74,682, CoinGecko reports. Ethereum gained 0.6% to $2,354.51.
XRP rose 2.1% to $1.39. Solana added 1.5% to $145.20. Dogecoin jumped 3.2% to $0.185. Total market cap hit $2.67 trillion, down 0.2%, per CoinMarketCap.
Robinhood SEC Approval Details
The SEC greenlit Robinhood's blockchain custody proposal. It features institutional-grade multi-signature wallets. Users gain self-custody for BTC, ETH, and select altcoins, with expansion by Q3 2026.
Robinhood launched crypto trading in 2018. This step follows 2024 SEC fines for compliance issues.
Stock Reaction and Analyst Insights
Robinhood (HOOD) hit $35.20 pre-market, up from $31.60 close, Nasdaq confirms. Short interest dropped 8%. JPMorgan analyst Devin Ryan raised target to $42, stating the Robinhood SEC approval positions it as a crypto custody leader.
Shares beat Coinbase's 4.2% gain. Trading apps saw 30% download surge, Sensor Tower data.
Fear & Greed Index Signals Opportunity
Readings below 25 precede BTC rebounds 70% of the time, with 15% gains in 30 days, Alternative.me historical data shows. BTC stability above $74,000 bolsters holders amid Fed rate pressures.
Ethereum's uptick ties to ETF inflows; BlackRock's ETH fund reached $15B AUM.
Competitors and Market Share
Coinbase commands 40% custody share, The Block Research estimates. Robinhood aims for 15% by 2027. Kraken and Fidelity Digital Assets ($50B custody) lead others.
Binance.US trails on U.S. regulations.
Fintech and Regulatory Outlook
The approval lifts sector confidence. SoFi and Webull prepare filings. FINX index rose 2.1% pre-market.
SEC Chair Gary Gensler emphasized custody rules protect investors. Deloitte projects $10T crypto custody market by 2030.
Wedbush's Dan Ives hiked target to $50, citing retail growth in 25M funded accounts, up 12% YoY.
Growth Ahead for Robinhood
More SEC decisions on ETFs and stablecoins approach. Robinhood SEC approval solidifies its stock-crypto platform. BTC may test $80K if fear eases; monitor volumes and Fed minutes.
