Key points

  • Robinhood's combined crypto notional volume reached $17.5 billion in August, rising 61% from July but falling 38% from August 2025.
  • Bitstamp contributed $10.1 billion of the total, while the Robinhood app handled $7.4 billion.
  • The monthly figures are preliminary operating metrics, not a full earnings report, and do not disclose crypto transaction revenue.

A sharp monthly rebound with a weaker annual comparison

Robinhood's cryptocurrency trading activity recovered strongly in August, but the U.S. brokerage's latest operating data also showed that volumes remained well below last year's level. Crypto notional trading volume reached $17.5 billion, up 61% from $10.9 billion in July and down 38% from $28.1 billion in August 2025.

The September 10 release measures the dollar value of crypto bought and sold across the Robinhood app and Bitstamp. It is a measure of trading activity rather than revenue, profit or customer gains. Robinhood did not disclose crypto transaction revenue in the monthly update, so the volume rebound should not be converted into an earnings estimate.

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Bitstamp handled most of the crypto total

Bitstamp accounted for $10.1 billion of August crypto volume, compared with $7.4 billion on the Robinhood app. Bitstamp's total rose 53% from July but was 30% lower year over year. Activity in the Robinhood app increased 72% month over month and declined 46% from August 2025.

Together, the two venues averaged $565 million in daily crypto volume during August. Bitstamp's $326 million average exceeded the app's $239 million. The split matters because it shows that more than half of the reported activity came from the exchange Robinhood acquired, rather than exclusively from customers trading through its better-known retail brokerage interface.

Why the two comparisons point in different directions

The 61% monthly increase indicates that customers traded more actively than in July. The 38% annual decline shows that the business has not returned to the much higher activity recorded a year earlier. Both comparisons are necessary: focusing only on July would overstate the strength of the recovery, while focusing only on 2025 would miss the latest acceleration.

Decrypt independently highlighted the same contrast in its September 11 coverage. The publication also noted that crypto is one part of a much broader platform. Robinhood reported $383.7 billion in total platform assets at the end of August, up 8% from July and 26% year over year, alongside 28.6 million funded customers. Net deposits were $4.0 billion for the month, while margin balances increased 4% from July to $21.5 billion. Those figures broaden the picture but do not isolate the effect of crypto trading.

Other trading lines moved differently

Equity notional volume was $335.4 billion, up 1% from July and 68% from a year earlier. Options contracts fell 10% from July to 292.5 million but remained 50% above August 2025. Event contracts declined 23% from July to 4.7 billion, while still standing at roughly 15 times their year-earlier level.

Those mixed movements suggest that the August crypto rebound was not simply part of a uniform increase across every product. They also show why a single monthly percentage cannot describe the condition of Robinhood's overall business. Trading volumes can move sharply with market prices, volatility, product launches and customer participation.

What investors still need to learn

Robinhood labels the release as select operating data. The figures are preliminary and may differ from results in its next quarterly filing. Investors will need that report to assess transaction-based revenue, expenses, profitability and the economic contribution from each business line. For now, the clearest conclusion is narrower: August produced a substantial crypto-activity rebound from July, led in absolute dollars by Bitstamp, without erasing the year-over-year decline.

Sources

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