Robinhood Unveils Robinhood Investor Index

Fazzaco learned that trading app giant Robinhood has announced the launch of Robinhood Investor Index to show how the company's customers are investing.

As detailed in the official press release, Robinhood Investor Index is an aggregate view of Robinhood's customers' top 100 most owned investments on Robinhood and tracks the performance of those investments over time.

Robinhood highlighted that unlike most other indices, Robinhood Investor Index is weighted by conviction rather than by dollars. The company will update the index once a month.

Overall, the index leans towards large cap stocks with 75% in large cap, 16% in mid cap and 9% in small cap. 

"​Over the last several years, we've seen our customers—and millions more like them—play an increasingly important role in the market. With the launch of the Robinhood Investor Index, we're giving customers, and the world, a look at everyday investor positioning and performance on Robinhood," according to the company. 

As Fazzaco reported that Robinhood has continued to expand its support for different cryptocurrencies, with Cardano​ (ADA) being the latest token to be listed. The company stated that the listing is due to demand from users, with trading in the token expected to begin immediately, the platform said in a tweet on September 1.