Webull & Robinhood Stocks Surge as Retail Crypto Orders Explode Post-PDT Repeal

Retail investors are driving up stocks of brokerages that facilitate cryptocurrency trading after the repeal of the pattern day trader rule, which lifted restrictions on accounts making four or more day trades in five business days.

Webull CEO Anthony Denier stated that retail buy orders for the largest cryptocurrencies have increased by nearly 300% since the June 4 repeal, with Bitcoin up only 0.4% over the past 24 hours at $79,377.30 and Ethereum down 0.5% to $2,475.16.

The rule change has had a significant impact on Webull's revenue, with trading-related revenue climbing 66% year over year to $147.7 million in Q2 2026, and daily average revenue trades hitting a record 1.6 million.