Robinhood’s cryptocurrency trading volume climbed 61% month over month to $17.5 billion in August 2026, yet the total still sat 38% below the same month a year earlier, according to the brokerage’s August monthly operating report published on Thursday.
The figures underline a split picture for the company’s crypto business: sequential momentum is improving, but the year-on-year comparison remains firmly negative as the exchange space and retail trading activity continue to shift.
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Bitstamp overtakes the Robinhood app
Bitstamp, the crypto exchange Robinhood acquired in June 2025, accounted for $10.1 billion of August’s volume, while trading on the flagship Robinhood app contributed $7.4 billion.
Bitstamp’s volume rose 53% from July but declined 30% year-on-year. The Robinhood app posted a stronger sequential gain of 72%, yet its volume fell 46% compared with August 2025 — meaning the app now trails the acquired exchange by a meaningful margin. The report also noted that volume from the Robinhood Chain was not included in the totals.
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The divergence is not new. In the second quarter, Bitstamp generated $22 billion of Robinhood’s $40 billion in total crypto volume, against $18 billion from the app, reinforcing Bitstamp’s role as the larger engine of the company’s crypto activity.
Crypto revenue falls even as the broader business grows
Robinhood’s crypto transaction revenue dropped 38% year-on-year to $100 million in the second quarter, down from roughly $160 million a year earlier. The decline was more than offset by growth in event contracts, options, and equities, allowing the brokerage to report record quarterly revenue and earnings.
That pattern suggests the company’s diversification strategy is helping cushion a softer crypto market, even as digital-asset trading volumes remain well below their 2025 peaks.
Why this matters for readers and the wider market
Robinhood’s monthly disclosures are closely watched as a real-time proxy for retail crypto participation. A month-on-month rebound signals that retail traders returned to the market in August, but the steep year-on-year drop indicates activity is still far from the levels seen during the prior cycle’s peak. Combined with the Bitstamp-heavy volume mix, the data highlights how much of Robinhood’s crypto expansion now depends on institutional and exchange-based flows rather than its core retail app.
Conclusion
Robinhood entered September with improving monthly crypto volumes but a still-negative annual trend. Bitstamp remains the larger contributor to digital-asset trading activity, while growth in equities, options, and event contracts has kept overall revenue at record highs. Readers tracking the company should watch whether the sequential recovery in crypto volume continues — and whether it eventually translates into a year-on-year rebound.
This article reflects company-reported figures and is not financial advice. Cryptocurrency markets are volatile and uncertain, and past trading volumes do not guarantee future results.
FAQs
Q1: How much crypto volume did Robinhood report in August 2026?
Robinhood reported $17.5 billion in total crypto trading volume for August 2026, up 61% month over month but down 38% year over year. Bitstamp accounted for $10.1 billion and the Robinhood app for $7.4 billion.
Q2: Why is Bitstamp’s volume higher than the Robinhood app’s?
Bitstamp, acquired by Robinhood in June 2025, serves a more international and institutional-leaning client base. In both the second quarter and August, it contributed a larger share of Robinhood’s crypto volume than the flagship app.
Q3: Is Robinhood’s crypto revenue still declining?
Yes. Crypto transaction revenue fell 38% year over year to $100 million in the second quarter of 2026, though growth in event contracts, options, and equities offset the decline and helped the company post record quarterly revenue and earnings.
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