Daily Crypto Briefs 
MENLO PARK, Calif., July 30, 2026
Robinhood reported second-quarter net revenue of $1.31 billion, up 32% from a year earlier, while cryptocurrency transaction revenue fell 38% to $100 million, underscoring how the broker’s rapid expansion beyond crypto is reshaping its earnings mix.
The company also reported a record $21.7 billion in net deposits and $776 million in transaction-based revenue for the quarter ended June 30. Crypto remained a material product line, but the quarter’s strongest trading gains came from event contracts, options and equities rather than digital assets.
The market context was mixed. Robinhood shares were trading near $88.16 on July 30, down about 1.9% from the prior close, while Bitcoin was near $64,801, up about 1.3% on the day, according to CoinGecko market data. The company said total crypto notional volume was $40 billion, including $18 billion on the Robinhood app, down 35% year over year, and $22 billion at Bitstamp.
In its official Q2 release, Robinhood said transaction-based revenue grew 44% to $776 million, driven by $156 million from event contracts, $342 million from options and $129 million from equities. The $100 million in crypto revenue was the exception in that group, and the company attributed the broader rise in platform assets partly to higher equity valuations while noting lower crypto valuations as an offset.
The comparison is sharp. In the second quarter of 2025, Robinhood reported $160 million in crypto transaction revenue, up 98% at the time, as crypto markets were more active. This year, the firm has added new crypto infrastructure and markets, including the Robinhood Chain public-mainnet rollout, but those initiatives did not prevent a year-over-year contraction in app crypto activity during the reporting period.
Bitcoin
BTCRobinhood’s Q2 Crypto Revenue Falls to $100M
Crypto transaction revenue is the fee revenue Robinhood records from cryptocurrency activity, not the value of the tokens customers hold. The reported $100 million was down $60 million from a year earlier, even as the company broadened its digital-assets footprint through Bitstamp and international products.
The notional-volume split shows the difference between the two businesses. Robinhood’s app processed $18 billion in crypto volume, while Bitstamp processed $22 billion. Notional volume measures the dollar value of trades rather than revenue, so it does not show how much Robinhood retained from those transactions.
Bitstamp’s contribution also makes a simple comparison with the prior-year quarter less direct. Robinhood did not disclose the separate revenue contribution from Bitstamp in the release, nor did it provide a product-level explanation for the decline beyond the reported app-volume trend.
The company has been building new routes into the market while its core crypto trading revenue fell. It said it closed the WonderFi acquisition in Canada, introduced perpetual futures in the European Union and plans to launch crypto offerings in the United Kingdom. Those plans follow its recent UK MiFID licence for derivatives and equities, a reminder that large platforms are competing for regulated international distribution as well as U.S. trading flow.
Record Deposits Shift Robinhood’s Revenue Mix
The earnings release showed how other products carried the quarter. Net deposits reached $21.7 billion, total platform assets rose 32% to $369 billion and funded customers climbed 7% to 28.4 million. Robinhood Gold subscribers increased 39% to 4.8 million.
Event-contract revenue rose more than tenfold to $156 million, options revenue rose 29% to $342 million and equities revenue rose 95% to $129 million. The figures do not make crypto less relevant to the company, but they show that trading demand shifted toward products that delivered more revenue growth in the quarter.
Robinhood said it now has 13 business lines with at least $100 million in annualized revenue. Chief Financial Officer Shiv Verma said in the release that the company delivered new highs across equity, option and event-contract volumes, describing the business as more diversified.
The composition may reduce the company’s immediate reliance on crypto-market volatility, but it also means crypto investors have a narrower view into the unit’s stand-alone performance. The Morgan Stanley ether and Solana ETP launch illustrates the same wider competition for investor exposure, although an exchange-traded product and a retail trading platform have different revenue models.
Crypto Volume Is the Next Robinhood Q2 Test
Robinhood’s Q2 filing said lower cryptocurrency valuations partly offset higher equity valuations in total platform assets. Its app crypto volume was down 35% from a year earlier, a more direct signal of the trading environment than the company’s total revenue headline.
The next useful comparison will be the company’s July and third-quarter trading disclosures. Its Q2 earnings presentation said July activity in equities, options and event contracts was in a similar area to the Q2 records, but it did not provide a corresponding July crypto-volume figure.
The Crypto Fear & Greed Index read 29, or Fear, on July 29. That sentiment measure is not a reading on Robinhood’s business, but it provides a broad backdrop for a quarter in which crypto trading revenue fell despite a recovery in Bitcoin from late June.
Fear & Greed Index
July 29, 2026Robinhood has not said whether app crypto volume improved after June or how much of its future international expansion will translate into crypto revenue. The next filings should show whether Bitstamp, perpetual futures and the new chain and tokenization products can offset a softer domestic spot-trading quarter.
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Primary sources and further reading
| Source | Title |
|---|---|
| | Robinhood: Second Quarter 2026 results |
| | Robinhood: Q2 2026 Form 10-Q |
| | Robinhood: Q2 2026 earnings presentation |
| | CoinGecko: Bitcoin market data |
| | Alternative.me: Crypto Fear and Greed Index |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
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Frequently Asked Questions
How much crypto revenue did Robinhood report in Q2 2026?
Robinhood reported $100 million in cryptocurrency transaction revenue for the quarter ended June 30, 2026. That was down 38% from the same quarter a year earlier.
Why did Robinhood's crypto revenue fall in Q2 2026?
The company reported lower crypto trading activity on the Robinhood app. App crypto notional volume fell 35% year over year to $18 billion, although Bitstamp contributed another $22 billion in notional volume.
What were Robinhood's total Q2 2026 revenues?
Robinhood reported $1.31 billion in total net revenue, up 32% year over year. Transaction-based revenue was $776 million, while net deposits were a record $21.7 billion.
Does Robinhood's Q2 report include Bitstamp?
Yes. Robinhood reported $40 billion in total crypto notional volume, comprising $18 billion on the Robinhood app and $22 billion at Bitstamp.