The San Fransico-based SoFi (NASDAQ:SOFI) bank holds almost $170 million in crypto on its balance sheet, according to its second quarter (Q2) earnings report. The United States bank, which serves over six million customers, has seen a significant increase in its crypto holdings compared with the previous quarter.
The bank holds Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Cardano (ADA), Solana (SOL), Dogecoin (DOGE) and Ethereum Classic (ETC). Out of the total $166 million of crypto investments, the bank holds $82 million of BTC and $55 million worth of ETH. DOGE took the third spot at almost $5 million, with ADA holdings totaling $4.5 million. An investor presentation also revealed that SoFi onboarded over 500,000 customers and now supports trading for over 22 cryptocurrencies.