Robinhood Q2 crypto volume jumps 32% to $28B amid tokenization push and Bitstamp acquisition

Robinhood Markets reported a 32% year-over-year increase in crypto trading volume for the second quarter of 2025, reaching $28 billion, according to its quarterly earnings report [1]. The growth reflects the brokerage’s intensified focus on long-term crypto ambitions, including the expansion of tokenization and partnerships with major exchanges like Bitstamp. The platform’s crypto-related transaction-based revenue also surged 98% to $160 million during the quarter, compared to $252 million in the first quarter of the same year [1].

CEO Vlad Tenev emphasized the strategic importance of tokenization, calling it the “biggest innovation in the past decade” and a key component of Robinhood’s product roadmap. The company’s Q2 results showed strong performance across the board, with diluted earnings per share reaching $0.42 and total revenue rising 45% to $989 million—both figures exceeding market expectations [1]. Robinhood also finalized two major acquisitions during the quarter: the $179 million purchase of WonderFi in Canada and the $200 million acquisition of Bitstamp, which reported $7 billion in notional trading volume post-acquisition [1].

The firm’s expansion into tokenized equities, crypto perpetual futures, and staking services for Ethereum and Solana in the U.S. and EU further underscore its commitment to building infrastructure for a broader digital finance ecosystem. Robinhood also announced the development of a Layer 2 blockchain based on Arbitrum, signaling a deeper technical push into blockchain innovation. Analysts at Mizuho Securities highlighted the platform’s aggressive product development and its potential to capture a significant share of the $600 billion total available market for crypto services [1].

Robinhood’s stock closed up 2.7% at $106.10 per share on Wednesday, giving the company a market capitalization of $90 billion [1]. The rising valuation reflects investor confidence in Robinhood’s ability to drive mainstream adoption of digital assets through user-friendly access and innovative product offerings. While the company did not provide detailed user growth or profitability figures in its report, the substantial increase in crypto trading volume indicates continued engagement and activity among its user base [1].

As Robinhood continues to integrate tokenization and expand its crypto services, it is positioning itself as a key infrastructure player in the digital asset space. The firm’s approach appears to align with broader industry trends, particularly the growing interest from both institutional and retail investors in seamless access to digital finance. With regulatory frameworks still evolving in the U.S. and globally, Robinhood’s early move into tokenization may give it a strategic advantage in shaping the future of asset representation and trading.

Source: [1] Robinhood's Q2 crypto volume jumps 32% as firm pushes tokenization, Bitstamp deals (https://www.theblock.co/post/364887/robinhoods-q2-crypto-volume-tokenization-bitstamp-deal)