Robinhood’s Crypto Trading Volume Jumps 61% in August but Remains Down Year-Over-Year

Robinhood reported a 61% month-over-month increase in crypto trading volume for August, reaching $17.5 billion, though the figure remained 38% lower compared to the same period last year. According to the company’s August operating report, Bitstamp, the crypto exchange Robinhood acquired last year, contributed $10.1 billion of the total volume, while the Robinhood app accounted for the remaining $7.4 billion.

Bitstamp’s volume grew 53% from July but was still down 30% year over year, while volume through the Robinhood app itself rose 72% month over month despite falling 46% compared to August of the previous year.

Second-Quarter Revenue Declined Despite Overall Strong Performance

Bitstamp also played a larger role in Robinhood’s crypto volume during the second quarter, contributing $22 billion of the company’s total $40 billion, compared to $18 billion generated through the Robinhood app. Crypto transaction revenue for that quarter fell 38% year over year to $100 million, down from roughly $160 million during the same period last year.

Despite the decline in crypto revenue, growth in other business areas, including options, equities, and event contracts, helped Robinhood achieve record quarterly revenue and earnings overall. The company noted that trading volume from its newer Robinhood Chain platform was not included in the August figures.