Bitcoin Bump Boosts Robinhood Crypto Trading

Rough math suggests the company’s crypto trading was the highest it’s been since Nov. 2022.

Robinhood’s crypto trading volume surged 75% in November compared with one month prior, according to preliminary trading data the company disclosed on Monday, while its stock trading volume remained relatively flat.

The spike comes as crypto prices have surged in recent weeks, with the price of bitcoin rising more than 20% over the past month and topping $42,000 in recent days, highs not seen since before the popular terraUSD and luna cryptocurrencies collapsed in May 2022. Robinhood’s update today suggests it processed around $4 billion in crypto trades last month, based on its previously disclosed October total, the most since FTX collapsed in November 2022.

The surge in crypto investor enthusiasm has likely also boosted trading volumes on crypto exchange Coinbase, which has seen its stock price surge more than 60% over the past month.