Robinhood Reveals Bitcoin ETFs Drive 5% of Crypto Trades, Q4 Revenue Hits $471M
February 14, 2024Robinhood CFO Jason Warnick reports 11 Bitcoin ETFs on the platform contribute to 5% of its crypto trading volume.
The majority of Robinhood's crypto trading, 95%, comes from traditional spot trading.
Robinhood's fourth-quarter revenue reached $471 million, with a 10% year-over-year increase in crypto revenue totaling $43 million.
Despite positive performance indicators, Robinhood's stock price declined by 1.5% on Feb. 13, then surged over 10.5% in after-hours trading.
The platform has all ten U.S. spot Bitcoin ETFs, amassing over $10 billion in assets since their introduction on Jan. 11.
Bitcoin's value has risen 6.5% since the spot ETFs launch, momentarily crossing the $50,000 mark on Feb. 12.
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