Robinhood, a no-fee trading app, released its second quarter 2021 results Wednesday. It noted that more than 60% of its net cumulative funds accounts were engaged in crypto trading and that customers had “demonstrated significant interests in cryptocurrencies”.
This quarter also saw a higher share of crypto-based transactions at $233 million USD, compared to $5 million USD in 2020’s second quarter. Crypto accounted for 52% of transaction-based revenue, which rose from 17% in the first quarter and 4% in the fourth quarter of 2020. They also shared that more than 60% of cumulative net-funded accounts traded crypto in the quarter.