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Robinhood’s cryptocurrency trading business continued to lose ground in October 2026, as trading activity on its retail app fell 51% from a year earlier.
The decline came alongside lower activity on Bitstamp, with both platforms recording weaker trading volumes, according to Robinhood’s operating update released on November 12.
According to the operation report released on November 12, Robinhood and Bitstamp handled approximately $17 billion in cryptocurrency trades in October, down from $21.4 billion in September. This means the two platforms recorded about $4.4 billion less in trading volume within one month.
Robinhood’s retail app accounted for $6.8 billion of the October total, representing a 24% decline from September and a 51% drop from October 2025. Bitstamp, the cryptocurrency exchange acquired by Robinhood, recorded $10.2 billion in trading volume. This was an 18% monthly decline and 45% lower than the same month last year.
The fall also affected the platforms’ average daily trading activity. Combined average daily crypto volume dropped 23% to $548 million in October.
Bitstamp contributed about 60% of the combined trading volume, showing that the exchange handled a larger share of cryptocurrency trades than Robinhood’s retail app during the month.
October trading falls below August levels
The latest figures also show that Robinhood’s combined crypto trading volume has fallen below the level recorded in August.
During August, the two platforms processed $17.5 billion in cryptocurrency trades. Robinhood’s app accounted for $7.4 billion, while Bitstamp handled $10.1 billion.
By October, Bitstamp’s trading volume had increased slightly to $10.2 billion, but activity on Robinhood’s app had fallen to $6.8 billion. This left the combined October total about 2.9% below August’s figure.
The decline followed a stronger September, when combined trading volume reached $21.4 billion. However, the October figures show that the increase did not last, as activity fell again across both platforms.
Crypto revenue falls 55% in the third quarter
The October decline followed a difficult third quarter for Robinhood’s cryptocurrency business. In its financial results released on October 27, the company reported $120 million in crypto transaction revenue, down 55% from the same period in 2025.
Crypto trading volume also fell 38% year-over-year to $50 billion. Robinhood’s app recorded $21 billion, down 48%, while Bitstamp handled $29 billion, representing a 28% decline.
The lower crypto earnings came as other parts of Robinhood’s business recorded growth. Options revenue increased 31% to $399 million, while equities revenue rose 41% to $121 million.
Event contracts also performed strongly, generating $173 million in revenue during the quarter, more than six times the amount recorded a year earlier. This was $53 million more than the company’s cryptocurrency revenue. Overall, Robinhood reported $1.424 billion in total net revenue, up 12% year-over-year. However, net income fell 14% to $476 million.
Robinhood continues expanding its trading products
Despite the drop in crypto activity, Robinhood has continued introducing new products. In September, the company announced a partnership involving OG.com to expand its prediction-market business and provide exchange and clearing services for event contracts.
Trading in these contracts continued to grow in October, reaching an average of 190 million contracts daily. This represented a 135% increase from October 2025.
Robinhood also announced plans to introduce cryptocurrency perpetual futures for eligible U.S. customers. The planned contracts will cover Bitcoin, Ethereum, Solana, XRP, Dogecoin, Cardano, Chainlink and Hyperliquid.
The products will allow traders to take long or short positions without an expiry date. Bitcoin and Ethereum contracts will offer up to 10 times leverage, while the other cryptocurrencies will have a maximum of three times leverage.
Also Read: Kraken Parent Reports $60M Q3 Earnings as Trading Volume Falls