Robinhood's Cryptocurrency Trading Volume Increased by 61% in August to $17.5 Billion, with Bitstamp Contributing $10.1 Billion

According to Coin Circle (120btc.CoM), Robinhood disclosed its latest operational data for August on Thursday. The total trading volume of its cryptocurrency assets surged by 61% month-on-month, reaching $17.5 billion. However, compared to the same period last year, this figure still reflects a significant decline of 38%, indicating that retail investors' trading sentiment has not fully recovered.

In this report, the established trading platform Bitstamp contributed $10.1 billion in trading volume, accounting for as much as 58% of the overall total; in contrast, the trading volume on Robinhood's native app was only $7.4 billion. Breaking it down, Bitstamp's trading volume increased by 53% month-on-month but decreased by 30% year-on-year; while the app's trading volume achieved a 72% month-on-month growth, it still experienced a deep 46% pullback compared to August 2025. In fact, this is not the first time Bitstamp has taken the lead. In the recently concluded second quarter, the platform recorded a trading volume of $22 billion (55% of the total quarterly volume of $40 billion), significantly surpassing the $18 billion contributed by the app.

Diverse Business Expansion

The structural weakness in trading volume has directly impacted revenue. Robinhood's cryptocurrency transaction fee revenue in the second quarter plummeted by 38% year-on-year, shrinking from approximately $160 million a year ago to $100 million. Fortunately, the strong expansion of diversified trading segments such as Event Contracts, options, and traditional stocks effectively filled the revenue gap from the cryptocurrency segment, driving the parent company to achieve record highs in quarterly revenue and profit.

It is worth noting that the official financial report clarified that the on-chain trading volume generated by the emerging Robinhood Chain (RHC) was not included in the statistics for the above two segments.

Robinhood Chain Builds an Independent Growth Engine

As an independent business unit, RHC's data accounting is completely separated from Bitstamp and the app. Wall Street investment bank Bernstein previously published a research report predicting that by 2028, RHC is expected to generate a stable annual cash flow of $160 million in transaction fees. However, according to analysis from Ark Invest, the proportion of native users derived from the official ecosystem within the RHC network is less than 5%, with the majority of its liquidity still driven by external arbitrage funds and existing players in decentralized finance (DeFi).

Since acquiring the leading European platform Bitstamp for $200 million in June 2025, Robinhood's cryptocurrency strategy has undergone a substantial shift. Bitstamp's trading volume continues to exceed that of the app, confirming that its business focus is shifting from traditional retail investors to high-net-worth institutions and the broader European market. This aligns closely with its recent aggressive rollout of innovative products such as event contracts and pre-IPO trading. Amid macro headwinds, with Bitcoin pressured below $80,000 and expectations of Federal Reserve tightening reigniting, the risk-averse sentiment among retail investors continues to spread. If the overall digital asset market lacks substantial rebound opportunities in the third quarter, the trading data from its app may face further downward pressure.

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