Crypto Trading Volume Jumps 74% to $25 Billion
Robinhood's crypto business showed remarkable strength in February 2026, with total trading volume reaching $25 billion. This represents a 74% increase compared to February 2025 and a 9% rise from the previous month. The growth was significantly driven by the inclusion of Bitstamp, the institutional-focused exchange acquired by Robinhood, which contributed $15.6 billion to the total. The native Robinhood App accounted for the remaining $9.4 billion, marking an 8% increase from January. This performance is notable as overall trading activity on centralized crypto exchanges saw a slight decline during the same period, indicating Robinhood is capturing a growing share of user activity.
Stock and Options Trading Declines by Double Digits
In sharp contrast to its crypto segment, Robinhood's traditional trading businesses experienced a slowdown. Equity trading volume fell 14% month-over-month to $194.4 billion. Similarly, the number of options contracts traded dropped by 10% from January to 180.3 million. While these figures still represent year-over-year growth, the monthly downturn highlights a clear shift in user engagement away from equities and toward digital assets on the platform.
Data Suggests Retail Investors Are Rotating Capital
The opposing trends between crypto and equity volumes on Robinhood's platform provide strong evidence of a capital rotation. Instead of a broad 'risk-on' sentiment lifting all speculative assets, retail investors appear to be making a tactical choice, moving funds from the stock market into the more volatile crypto market. This behavior aligns with a broader market pattern where the same pool of speculative capital chases momentum between different asset classes. While the platform's total funded customers grew a healthy 7% year-over-year to 27.4 million, their trading activity is clearly concentrating more intensely on crypto.
