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Level 1
posted Feb 9, 2025 10:25:26 AM

Do I have a financial stake in a digit asset if I only invest in it on Robinhood? I sold some Bitcoin, which is reported on a 1099-DIV forms.

I do not physically own any coins, so I'm thinking the answer is no. I assume investing in crypto in Robinhood is no different than any other stock.

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1 Best answer
Expert Alumni
Feb 9, 2025 2:22:50 PM

Investing in crypto via Robinhood is still considering owning a digital asset if you own Bitcoin directly.   You are still the owner of these assets, Robinhood just executes the transactions for you.

However, if you own a fund that invests in crypto assets, like a crypto ETF, that would not count.  

1 Replies
Expert Alumni
Feb 9, 2025 2:22:50 PM

Investing in crypto via Robinhood is still considering owning a digital asset if you own Bitcoin directly.   You are still the owner of these assets, Robinhood just executes the transactions for you.

However, if you own a fund that invests in crypto assets, like a crypto ETF, that would not count.