Robinhood Reports 5% Crypto Trading Volume from Spot Bitcoin ETFs
Robinhood disclosed that approximately 5% of its total crypto trading activity comes from spot Bitcoin ETFs. The remaining 95% originates from spot trading conducted within the platform’s crypto division. CFO Jason Warnick mentioned during the quarterly earnings call that the platform is experiencing significant interest in the ETFs and believes it is beneficial overall. The SEC approved 11 spot Bitcoin ETFs in January, and Robinhood quickly integrated them into its offerings.
Robinhood’s 4Q Revenue Surpasses Analyst Expectations
In the fourth quarter, Robinhood saw an 8% increase in transaction-based revenues, reaching $200 million. The growth was driven by a 10% surge in crypto revenue, totaling $43 million. Overall fourth-quarter revenue rose by 24% to $471 million, surpassing analysts’ estimates.
Increased Crypto Trading Volume and Global Expansion
In a presentation, Robinhood revealed that notional crypto trading volume rose by 89%, attributed to increased customer activity. Additionally, the company has expanded globally, launching stock brokerage services in the UK and expanding its crypto offerings in the European Union. CEO Vlad Tenev expressed optimism about investing more in crypto and attracting international customers.
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