Key Points:
- Robinhood’s combined crypto trading volume rose 61% month-on-month to $17.5 billion in August, but remained 38% below August 2025 levels.
- Bitstamp generated $10.1 billion of the total, while trading through the Robinhood app contributed $7.4 billion.
- The year-over-year decline highlights softer crypto activity despite a strong monthly rebound, while Robinhood’s broader revenue growth continues to be supported by equities, options and event contracts.
Robinhood Crypto Trading Rebounds in August
Robinhood’s crypto trading activity accelerated in August, with combined volume across its platforms increasing 61% from July to $17.5 billion.
Despite the monthly recovery, crypto volume remained 38% below the level recorded in August 2025, highlighting the gap between short-term trading momentum and the broader year-over-year trend.
According to Robinhood’s August 2026 operating report, Bitstamp generated $10.1 billion of the company’s crypto volume, while the Robinhood app accounted for $7.4 billion.
The figures exclude crypto volume generated through Robinhood Chain.
Bitstamp Remains the Larger Contributor
Bitstamp continued to account for the majority of Robinhood’s reported crypto activity.
Its August volume increased 53% from July but was still 30% lower than the same month a year earlier. Trading through the Robinhood app showed stronger monthly growth, rising 72% from July, although it declined 46% year-over-year.
The difference underscores the importance of Bitstamp to Robinhood’s overall cryptocurrency trading business since the brokerage acquired the exchange in June 2025.
Bitstamp also generated the majority of Robinhood’s crypto volume during the second quarter, contributing approximately $22 billion of the company’s $40 billion total. The Robinhood app accounted for the remaining $18 billion.
Crypto Revenue Remains Under Pressure
The increase in August trading activity comes against a backdrop of weaker year-over-year crypto transaction revenue.
Robinhood generated approximately $100 million in crypto transaction revenue during the second quarter, down 38% from roughly $160 million a year earlier.
However, the decline in crypto revenue did not prevent the brokerage from reporting record quarterly revenue and earnings. Growth across event contracts, options and equities more than offset the reduction in crypto-related revenue.
The diversification is increasingly important for Robinhood as cryptocurrency trading remains sensitive to market cycles and changes in retail investor activity.
Monthly Recovery Does Not Yet Signal Full Revival
August’s 61% monthly increase suggests that crypto trading activity recovered meaningfully from July, but the 38% year-over-year decline indicates that the market has not returned to its previous level of activity.
The performance also demonstrates why Robinhood’s acquisition of Bitstamp has become strategically important. The exchange provides access to a separate global trading base and has become a major component of the brokerage’s overall cryptocurrency volumes.
At the same time, Robinhood’s broader business model provides additional revenue sources that can cushion fluctuations in crypto trading.
Outlook
Robinhood’s August figures show a strong month-to-month recovery in cryptocurrency trading, but the continued year-over-year decline indicates that crypto activity remains below last year’s levels. Bitstamp’s contribution is increasingly significant to the brokerage’s digital-asset business, while growth in equities, options and event contracts provides diversification. The next several months will reveal whether August’s volume rebound develops into a sustained recovery or remains a short-term increase in trading activity.
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