Robinhood Crypto Revenue Jumps 98% on Strong Trading Growth and Market Expansion

Robinhood Markets Inc. reported a 98% year-over-year increase in cryptocurrency-related revenue for Q2 2025, reaching $160 million, according to its second-quarter earnings report [1]. This growth was fueled by a 32% rise in crypto trading activity on its platform, with total crypto trading volume reaching $28 billion and the broader market capitalization growing by 21.7% to $3.36 trillion [3]. The expansion of services such as crypto staking and tokenization also played a key role in driving the surge [3].

The company’s total net revenue for the quarter climbed 45% year-over-year to $989 million, surpassing the $921.5 million average analyst estimate [2]. Net income more than doubled to $386 million, reflecting strong cost discipline and operational scalability [3]. Robinhood’s transaction-based revenue—encompassing income from crypto, options, and equities trading—increased by 65% year-on-year to $539 million, with crypto contributing $160 million of that total [3]. However, the crypto revenue slightly missed the $162.1 million analyst forecast [1], marking a modest deviation from the company’s previously projected triple-digit growth.

Strategic acquisitions, including the acquisition of Bitstamp in June, have significantly enhanced Robinhood’s global crypto presence. The deal brought over 50 regulatory licenses across major markets, expediting the company’s international expansion and enabling faster deployment of products like tokenized stock trading in Europe and crypto staking in the US [3]. Additionally, the company added $7 billion in institutional trading volume within a month of the acquisition [3]. Robinhood also plans to expand its technology stack and serve more users across North America through the proposed acquisition of WonderFi, a Canadian crypto and DeFi platform [3].

Robinhood is also advancing its long-term vision through tokenization, a key focus for CEO Vlad Tenev. The company launched Robinhood Chain, a layer-2 blockchain designed to support tokenizing stocks and other real-world assets. This move has enabled users in 30 European countries to trade tokenized versions of US stocks [1]. Meanwhile, the company has begun offering private equity tokens in Europe, modeled after high-profile firms like OpenAI and SpaceX [3]. However, these innovations have drawn scrutiny, with OpenAI clarifying that the tokens do not represent real ownership, and Lithuania’s financial regulator launching a legal inquiry into compliance with securities laws [3].

The company’s user base and asset base have also grown significantly. The number of funded customer accounts increased by 10% year-over-year to 26.5 million, while platform assets nearly doubled to $279 billion [3]. Premium service adoption also reached a record high, with 3.48 million Robinhood Gold subscribers [3].

Despite its strong financial performance and strategic momentum, Robinhood’s stock dipped in after-hours trading, a common reaction when market expectations have already been priced in [3]. The company is expected to announce new partnerships, products, and strategic updates during its second annual HOOD Summit in September [3].

Source:

[1] Robinhood Earnings Double, But Crypto Revenue Misses (https://www.investors.com/news/robinhood-stock-earnings-q2-2025-hood-stock-cryptocurrency/)

[2] Robinhood Q2 2025 Earnings: Revenue Surges 45% to (https://www.webpronews.com/robinhood-q2-2025-earnings-revenue-surges-45-to-989m-on-crypto-boom/)

[3] Robinhood Reports Second Quarter 2025 Results (https://investors.robinhood.com/static-files/96125635-9736-40ed-a873-eb0cf735b079)