Bitstamp Drives Most of Robinhood’s $17.5 Billion August…

Robinhood's combined cryptocurrency trading volume across its consumer app and Bitstamp reached $17.5 billion in August, a 61% increase from July, according to the company's monthly operating data. The rebound marks a clear pickup in month-to-month activity, though combined volume was still 38% below the level recorded a year earlier.

Bitstamp generated the larger share, producing $10.1 billion of August volume — up 53% from July but 30% lower year-on-year. The Robinhood app recorded $7.4 billion, a 72% month-on-month rise, with a steeper annual decline of 46%.

Bitstamp's growing weight

Since its acquisition in June 2025, Bitstamp has become a central part of Robinhood's crypto operations. In the second quarter it contributed $22 billion of the company's $40 billion total crypto volume, against $18 billion through the Robinhood app. August followed that pattern, with Bitstamp accounting for roughly 58% of combined turnover.

The exchange gives Robinhood a larger institutional and international crypto footprint than its digital asset business had when it was concentrated in the retail brokerage app. Trading patterns across the two platforms also differ: Bitstamp's milder year-on-year decline in August suggests it offered some stability while the app's activity remained further below last year's levels.

Volume, however, has not translated directly into revenue. Robinhood reported $100 million in crypto transaction revenue for the second quarter, down 38% from approximately $160 million a year earlier, even as Bitstamp added substantial turnover to the group. The gap can reflect differences in customer mix, products and fee structures between institutional and retail activity, making revenue conversion a key metric alongside headline volume.

More broadly, Robinhood's second-quarter results showed earnings becoming less dependent on crypto, as the decline in digital asset transaction revenue was more than offset by growth in event contracts, options and equities, delivering record quarterly revenue and earnings. August's figures exclude volume from the Robinhood Chain, meaning the monthly data does not capture every part of the company's expanding digital asset infrastructure.