Your money is held through Robinhood Crypto, not through BlueChip. Cryptocurrency investments through Robinhood Crypto are not protected by SIPC and Robinhood Crypto is not a member of FINRA or SIPC. Robinhood Financial is an SEC-registered broker-dealer, but Robinhood Crypto is not insured.
You can learn more here: https://support.robinhood.com/hc/en-us/articles/360001226546-How-You-re-Protected