Robinhood Q1 Crypto Revenue and Trading Volume Fall Nearly 50% Year Over Year

Robinhood reported a steep decline in cryptocurrency performance during the first quarter of 2026, with crypto revenue falling to $134 million, representing a 47% year-over-year drop. Notional cryptocurrency trading volume on the platform also declined sharply, falling 48% to $24 billion compared with the same period last year.

The slowdown continues a trend from late 2025, when fourth-quarter crypto transaction revenue dropped 38% year over year to $221 million. Meanwhile, Bitstamp, the exchange acquired by Robinhood last year, recorded $42 billion in notional trading volume during the quarter, though no annual comparison was provided.

Other Revenue Segments Show Strong Growth

Despite crypto weakness, Robinhood reported total transaction revenue of $623 million, marking a 7% year-over-year increase. The growth was primarily driven by a 320% surge in event contracts revenue. Chief Financial Officer Shiv Verma said customer engagement remained strong, supported by an annualized net deposit growth rate exceeding 20%, along with double-digit growth in equities and options trading and record activity in prediction markets, futures and index options.

Options revenue reached $260 million, rising 8% year over year, while equities revenue jumped 46% to $82 million. The company also confirmed that its Ethereum Layer 2 blockchain has processed more than 100 million transactions.

Profitability Holds Despite Crypto Decline

Robinhood maintained profitability, posting net income of $346 million, a 3% increase from the same period last year. However, investor sentiment weakened following the earnings release, with Robinhood shares falling more than 6% to $82.9 in after-hours trading.