Robinhood's Q4 cryptocurrency revenue increased by approximately 490% month on month last year, reaching $360 million, accounting for nearly 40% of its total revenue

Odaily Planet Daily reported that Robinhood's cryptocurrency revenue reached $360 million in the fourth quarter of 2024, an increase of nearly 490% from $61 million in the third quarter. This is the highest quarter for cryptocurrency revenue on the platform, significantly surpassing the previous high of $126 million in the first quarter of 2024. Cryptocurrency revenue now accounts for nearly 40% of Robinhood's quarterly total revenue, compared to around 20% in the third quarter of 2024. The income growth is consistent with the expansion of cryptocurrency products on the platform. Robinhood's cryptocurrency investment portfolio has expanded to include popular Meme coins such as BONK, WIF, and TRUMP, as well as traditional cryptocurrencies. The platform primarily generates revenue through trading spreads rather than commissions, similar to other retail focused exchanges. Although Robinhood does not provide a specific classification of traded tokens, partial reference can be made to Coinbase's published earnings. Coinbase's fourth quarter report shows that Bitcoin accounted for 27% of trading volume, followed by Ethereum at 10%, USDT at 15%, and other cryptocurrencies at 48%. This distribution indicates that individual traders show a strong interest in altcoins outside of their main assets. Although Robinhood has achieved impressive results in cryptocurrency trading volume, Coinbase still maintains its leading position with a trading volume of $440 billion, while Robinhood's trading volume is $71 billion. （The Block）