Robinhood said it doubled crypto-related revenue for the second quarter of 2025, as traders continued to flock to its platform to buy and sell digital assets.
Crypto produced $160 million, contributing about 30% of the company’s total transaction-based revenue, according to the company, which also facilitates stocks and options trading.
User activity
A surge in user activity continues to feed Robinhood's strategic shift beyond traditional assets: the company noted a 32% year-on-year increase in crypto trading volume.
Robinhood Chairman and CEO Vlad Tenev has been particularly vocal around the global expansion of crypto. He spoke at the “To Catch a Token” event Robinhood hosted in June:
“Our latest offerings lay the groundwork for crypto to become the backbone of the global financial system.”
Tokens, deals, staking
According to the company’s earnings presentation, there was a wide variety of different crypto-related business updates in Q2 2025. Notably:
- The addition of “Stock Tokens” in Europe on over 200 stocks and ETFs
- Acquisition of Bitstamp, and the announcement of intent to acquire WonderFi
- Staking for ETH and SOL for US customers
Speaking about tokenization, Tenev stated, “I believe is the biggest innovation our industry has seen in the past decade.”
Bitstamp acquisition
The $200 million acquisition of Bitstamp, making it Bitstamp by Robinhood, brought one of the world’s longest-running and most reputable crypto exchanges into the company's portfolio. The exchange carries over 50 active licences and registrations across major markets worldwide, providing the company with access to markets across Europe and Asia.
Kraken, Coinbase
Crypto exchange Kraken also posted an increase in revenue when it reported its quarterly earnings this week. Kraken is working towards an initial public offering (IPO) and, in contrast with Robinhood, is a crypto-focused venture seeking to access more TradFi business.
Coinbase, the US's largest crypto exchange, reports earnings on Thursday.
