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Robinhood’s crypto revenues rose 700% to $358 million in the fourth quarter of 2024. Bitcoin surpasses its total trading revenue of $100,000, bringing it to $672 million, Crypto trading volume reaching $70 billion, BitStamp is acquired for $200 million, and plans to expand plans to add Asia Pacific I did. Cryptocurrency and Ethereum Staking in Europe Over the past year, stocks rose 365%, reaching $65.45 in after-hours trading
Robinhood Markets achieved unprecedented growth in the fourth quarter of 2024, and Crypto Trading led the fees with incredible financial performance. The company reported cryptocurrency revenues rose by $700 million to $358 million, reaching $45 million in the same period last year.
The surge in crypto activity boosted Robinhood’s total transaction-based revenue to $672 million, up 200% from the previous year. This growth contributed to the company’s overall quarterly revenue of $10.1 billion, indicating an increase of 115% year-on-year.
The company’s crypto trading volume experienced a dramatic shift in the fourth quarter. After much of 2024, Crypto Trading reached $70 billion in the fourth quarter, down from $36 billion in the first quarter to a third $14.4 billion.
This revival coincided with Bitcoin price exceeding $100,000 in late December 2024. The broader crypto market showed that Ethereum increased by 71.5% per year. The market recovery has brought both retail and institutional investors back into digital assets.
Robinhood’s net profit reflects this positive trend, increasing more than a 10-fold to $916 million. The company reported diluted earnings of $1.01 per share in the fourth quarter. This is a significant improvement from the previous year’s $0.03 per share.
The company’s expansion in the crypto sector included several important developments. Robinhood acquired Bitstamp, one of the world’s oldest crypto exchanges, for $200 million in June. The acquisition is intended to strengthen the company’s international presence.
Product innovation
Product innovation played a key role in quarterly success. Robinhood has introduced Ethereum staking for European users and has added seven new cryptocurrencies to its US platform. CEO Vladimir Tenev has indicated that the pace of the new token list is expected to increase next year.
The company has shown particular interest in tokenization. This is a sector that rose 52% last year to $12 billion excluding Stablecoins. TENEV has expressed enthusiasm about Robinhood’s position at the intersection of traditional finances and distributed finances (DEFI), with a plan to tokenize a variety of assets, including stocks and private investments.
Beyond cryptocurrency services, Robinhood has continued to expand its traditional financial offerings. The company has launched a new platform for active traders and has introduced the Robinhood Gold card. Their international expansion efforts included growth in both the UK and EU markets.
Looking ahead, Robinhood plans to establish its presence in the Asia-Pacific region, where Singapore serves as the regional hub for 2025. The company is developing options and futures trading products to attract more active traders.
The company’s assets (AUC) in detention rose 88% to $193 billion, with net deposits of $16 billion over the quarter. Robinhood’s Gold Subscription Service has increased to 2.6 million subscribers, representing an 86% increase from the previous year.
CEO TENEV advocates clearer guidelines in the US crypto market and is actively involved in regulatory debates. In the recent Washington Post Op-Ed, he called for the Securities and Exchange Commission (SEC) to establish rules that allow early-stage companies to tokenize fairness.
Robinhood’s stock trading revenue also performed strong, increasing 144% to $61 million. This growth complemented the company’s crypto success and contributed to the overall financial results.
The market is actively responding to Robinhood’s performance. The company’s share price has risen 365% over the past year. The shares closed at $55.91 and continued to increase in after-hours trading, reaching $65.45.
The fourth quarter results show a turning point from the company’s previous performance in 2024, when crypto trading volumes were falling. The latest figures show how quickly the market situation changes in the digital asset space.
