Spot Bitcoin ETFs Contribute 5% of Crypto Trading Volume on Robinhood: CFO

Robinhood spot Bitcoin ETF
Last updated:
Crypto Reporter
Crypto Reporter
Shalini Nagarajan
Author Categories
About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Robinhood on Tuesday revealed that about 5% of its total crypto trading activity originates from recently introduced spot Bitcoin ETFs.

The remaining 95% still stems from spot trading conducted within the platform’s crypto division.

During the quarterly earnings call, CFO Jason Warnick said the platform is seeing “nice interest in the ETFs, but we think it’s additive.”

“We feel really good to offer the selection for customers. We think it increases overall market interest in crypto and also brings liquidity to the market. So, net-net, we’re really pleased with the Bitcoin ETFs,” he said.

The SEC approved 11 spot Bitcoin ETFs in January, a milestone moment for the digital asset sector as it expands access to the leading crypto on Wall Street and beyond. Robinhood swiftly integrated all 11 ETFs to provide to its customers.

“There were some traders that sold out a spot and got to ETF, but that was really more of the exception. And we also offer the ETFs in our retirement accounts, which accounted for some of the pickup as well,” Warnick said.

Robinhood’s 4Q Revenue Hits $471M, Exceeds Analyst Expectations

In the fourth quarter, Robinhood reported an 8% jump in transaction-based revenues to $200m. The growth was mainly fueled by crypto revenue, which surged 10% to $43m.

Overall fourth-quarter revenue increased by 24% to $471m, with earnings per share at $0.03. This surpassed analysts’ estimates of $457m and an expected loss of $0.01 per share.

In a presentation, the company revealed that notional crypto trading volume rose by 89% compared to the previous quarter due to increased customer activity.

Global Expansion Gains Traction

Robinhood marked its international debut in the last few months. It first set out to launch stock brokerage services in the UK, followed by expanding its crypto offerings into the European Union, enabling users to trade over 25 digital currencies.

CEO Vlad Tenev said that the trading app’s internal expansion has attracted tens of thousands of international customers thus far.

“We’re investing a larger amount into crypto, both in the EU and domestically. I think there is a ton of improvements left to make,” he said.

More Articles

Altcoin News
Goldman Sachs Ramps Up Ether ETF Holdings by 2,000% as Bitcoin ETF Stash Surpasses $1.5B in Q4 2024
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-12 07:27:13
Altcoin News
IRS Urges Appeals Court to Dismiss Crypto Founder’s Challenge to Tax Summonses
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-12 06:02:14
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors