Robinhood Q2 Crypto Revenue Doubles Amid 32% Volume Surge

Robinhood Markets Inc. reported a significant surge in its cryptocurrency business in the second quarter of 2025, with crypto-related revenue more than doubling year-on-year to $160 million [2]. This increase was driven by a 32% rise in crypto trading volume to $28 billion, contributing to total net revenue growth of 45% to $989 million [2]. Net income also saw a substantial boost, increasing by 105% to $386 million [2]. Despite these strong earnings, Robinhood’s stock experienced a slight decline in after-hours trading following the announcement.

CEO Vlad Tenev has placed a central focus on asset tokenization, describing it as “the biggest innovation our industry has seen in the past decade.” Robinhood recently launched a tokenization-focused layer 2 blockchain—Robinhood Chain—for stock trading in Europe and has expanded its tokenization initiatives to 30 European countries [3]. The firm has issued private equity tokens in Europe that resemble shares in companies such as OpenAI and SpaceX, although OpenAI has clarified that these tokens do not represent actual company equity [2].

The company’s tokenization strategy includes making alternative assets—such as private shares, venture capital funds, and real estate—accessible to retail investors. Tenev emphasized that regulatory collaboration is a key part of this effort, with the company working to remove existing liquidity and regulatory barriers [2]. Robinhood’s acquisition of Bitstamp, a global crypto exchange, is expected to play a pivotal role in its broader tokenization ambitions [3].

Robinhood’s user base and asset base have also grown, with the number of funded customers rising 10% to 26.5 million and total platform assets reaching $279 billion [4]. The company’s subscription services, including Robinhood Gold and its digital advisory service Robinhood Strategies, have seen record growth. Robinhood Gold now has 3.5 million subscribers, while Robinhood Strategies manages over $0.5 billion in assets [4].

Looking ahead, Robinhood plans to continue its aggressive expansion. The company is preparing to host its second annual HOOD Summit in September 2025 and is in the process of acquiring WonderFi, a Canadian digital asset company, pending regulatory approval [3]. These moves underscore Robinhood’s commitment to maintaining its momentum in the rapidly evolving financial technology landscape.

Source:

[1] Robinhood Rides Crypto Surge, Bitstamp Deal (https://www.pymnts.com/financial-apps/2025/robinhood-rides-crypto-surge-bitstamp-deal-to-nearly-1b-revenue/)

[2] Robinhood's Q2 crypto volume jumps 32% as firm pushes (https://www.theblock.co/post/364887/robinhoods-q2-crypto-volume-tokenization-bitstamp-deal)

[3] Robinhood Q2 crypto volume jumps 32% to $28B amid (https://www.ainvest.com/news/robinhood-q2-crypto-volume-jumps-32-28b-tokenization-push-bitstamp-acquisition-2507/)

[4] Robinhood Reports Second Quarter 2025 Results (https://www.ainvest.com/news/robinhood-earnings-momentum-strategic-expansion-high-stakes-bet-retail-investors-2507/)

[5] Earnings call transcript: Robinhood Markets beats Q2 2025 (https://www.investing.com/news/transcripts/earnings-call-transcript-robinhood-markets-beats-q2-2025-forecasts-93CH-4161538)