Robinhood’s Crypto Revenue Doubles: Bitstamp Acquisition and Tokenization Drive Strategic Growth

Robinhood Markets has demonstrated a significant strategic pivot and robust financial performance within its cryptocurrency division during the second quarter of 2025. The company’s crypto revenue surged to $160 million, nearly doubling year-over-year, propelled by a substantial increase in trading activity and an aggressive foray into tokenized real-world assets. This growth underscores a broader ambition to evolve beyond conventional brokerage services, positioning Robinhood at the forefront of digital asset innovation and accessibility within the financial landscape.

• Robinhood’s cryptocurrency revenue nearly doubled year-over-year to $160 million in Q2 2025.
• The strategic acquisition of Bitstamp in June added $7 billion in institutional trading volume and over 50 global regulatory licenses.
• Total net revenue for the quarter reached $989 million, with net income more than doubling to $386 million.
• Robinhood launched Robinhood Chain, a Layer-2 blockchain, enabling tokenized U.S. equities trading for users in 30 European countries.
• The company plans further expansion through the proposed acquisition of Canadian platform WonderFi and new initiatives to be revealed at the HOOD Summit in September.

Driving Factors and Strategic Acquisitions

The notable 98% year-over-year increase in crypto revenue was directly correlated with a 32% rise in crypto trading activity, pushing total crypto trading volume to $28 billion for the quarter. A key driver for this expansion was the strategic acquisition of Bitstamp in June, one of the world’s oldest and most widely licensed crypto exchanges. This acquisition immediately bolstered Robinhood’s books with an additional $7 billion in institutional trading volume. Furthermore, the Bitstamp deal provided Robinhood with over 50 regulatory licenses across major global markets, offering an expedited path for international expansion and the introduction of new services like crypto staking in the U.S. and tokenized stock trading for European users. This strategic move significantly strengthened Robinhood’s standing with regulators, facilitating cross-border product launches that would otherwise have entailed years of independent development.

Robinhood’s strong performance was not limited to its crypto operations. Total net revenue for the quarter climbed 45% to $989 million, while net income more than doubled to $386 million. The company also reported substantial asset growth, with total platform assets nearing $279 billion. User engagement metrics reflected this positive trend, as funded customer accounts increased 10% year-over-year, reaching 26.5 million. Furthermore, the premium Robinhood Gold offering achieved a record 3.48 million subscribers, indicating an evolving business model beyond basic trading. Despite these impressive financial indicators, the company’s stock experienced a modest decline in after-hours trading, a market reaction often observed when high market expectations are already priced into the stock.

Strategic Vision: The Push for Tokenization

Central to Robinhood’s long-term strategy, as articulated by CEO Vlad Tenev, is the expansion into tokenization. Tenev characterized tokenization as “the biggest innovation our industry has seen in the past decade,” emphasizing its potential to democratize access to real-world assets for a broader investor base. To materialize this vision, Robinhood launched Robinhood Chain, a layer-2 blockchain specifically designed to support the tokenization of stocks and other real-world assets. This chain is currently operational in Europe, enabling users in 30 countries to trade tokenized versions of U.S. equities. The company is actively collaborating with regulators to extend similar offerings to the U.S. market.

Robinhood has also ventured into offering private equity tokens in Europe, mirroring stakes in prominent private companies such as OpenAI and SpaceX. However, these offerings have faced scrutiny, with OpenAI publicly clarifying that the tokens do not represent actual ownership. Lithuania’s financial regulator has also initiated an inquiry into the compliance of these tokens with regional securities laws. Looking ahead, Robinhood plans to enhance its technological infrastructure and expand its North American user base through the proposed acquisition of WonderFi, a Canadian crypto and DeFi platform. Further strategic announcements, including new partnerships and products, are anticipated at the company’s second annual HOOD Summit in September, where the firm is expected to detail its next phase of growth and innovation.