Robinhood's Crypto Revenue Plunges as Options and Equities Take Center Stage

Robinhood's crypto revenue is expected to drop significantly in Q2 2026, down 47.8% from last year to $83.5 million, according to Zacks' July 27 preview.

This marks the second consecutive quarter of decline for Robinhood's crypto revenue, which has been a significant contributor to its growth.

However, the company is trying to shift its focus away from crypto and towards other areas, such as options and equities trading. In Q2, options transaction revenue reached $314.3 million, up 18.6% year-over-year, while equities revenue rose 73.4% to $114.4 million.

Robinhood Gold, the company's subscription service, also reported a record 4.3 million subscribers in Q1, up 36% from last year, and generated $50 million in revenue, up 32%. Net interest revenue also increased by 24% to $359 million, driven by interest-earning assets.

Robinhood's new blockchain, launched on July 1, has already attracted significant activity, with Uniswap governance reporting over $1 billion in cumulative swap volume within the first week of launch. However, it is still unclear whether this will translate to revenue for the company.