In Robinhood's annual reportfor 2024, the final quarter stands way, way out — it absolutely exploded.
Between the lines: It's crypto trading that did it.
By the numbers: In Q3 the online brokerage brought in $319 million in total transaction-based revenue derived from options, crypto and stock trading.
In Q4, it brought in $358 million just from crypto.
Context: That's a 487% jump in the quarter compared to Q3 from crypto, fueling 111% growth overall. Digital assets vaulted to 53% of Robinhood's transaction-based revenue mix in the final quarter, up from 19% in Q3.
Crypto trading volumes 7Xed on the platform between October and November.
Flashback: The market got very frothy around the election last year, with bitcoin notching a new high and many folks anticipating another surge once the White House switched hands.
That second one never came through.
Flashback: We started seeing the crypto boom in Robinhood's earnings midway through last year.
Zoom out: Analysts are projecting a good year for the fintech app and early adopter of crypto.
💭 Our thought bubble: The mistake companies often make in this space is assuming surges like that will continue.
Enthusiasm for these assets tends to come in bursts.
