Robinhood Reports 28.5 Million Funded Customers in July Monthly Operating Data
Key Takeaways
- •Robinhood's funded customers reached 28.5 million at the end of July, increasing approximately 80,000 from June and roughly 1.77 million year-over-year.
- •Total platform assets of $355 billion fell 4% from June but rose 19% compared to July of the prior year, with the figure now including Trump Account assets.
- •Net deposits for July totalled $5.6 billion, bringing trailing twelve-month net deposits to $74.9 billion.
- •Crypto notional trading volumes dropped 33% month-over-month to $10.9 billion, representing a 62% year-over-year decline, while equity and options volumes increased on an annual basis.
- •Event contracts traded reached 6.1 billion, down 5% from June but approximately twenty times higher than the same month last year, underscoring the product category's rapid growth on the platform.
Robinhood Markets disclosed its latest monthly operating data on Wednesday, reporting that funded customers reached 28.5 million at the end of July. The figure represents an increase of approximately 80,000 from June and a year-over-year gain of roughly 1.77 million.
Total platform assets stood at $355 billion at month-end, declining 4% from June but rising 19% compared to the same period a year earlier. Starting in July, this figure includes assets from Trump Accounts custodied by Robinhood. These monthly operating data releases give investors regular visibility into customer growth, asset gathering, and trading trends between the company's quarterly earnings reports.
Net deposits for the month totalled $5.6 billion, equating to an 18% annualised growth rate relative to June's total platform assets. Over the trailing twelve months, net deposits accumulated to $74.9 billion.
Trading activity was mixed across asset classes. Equity notional trading volumes came in at $333 billion, down 15% month-over-month but up 59% year-over-year. Options contracts traded reached 324 million, rising 2% from June and 66% from a year earlier. Crypto notional trading volumes declined 33% from June to $10.9 billion, marking a 62% drop year-over-year.
Event contracts traded amounted to 6.1 billion, down 5% on the month but roughly twenty times higher than the same month last year. These contracts allow customers to trade on the outcomes of real-world events such as elections and sporting competitions, and their year-over-year surge reflects the product category's recent emergence on the platform.
Among interest-earning assets, margin balances closed the month at $20.7 billion, down 4% from June but up 82% year-over-year. Cash and deposit balances rose 4% to $19.5 billion. Total securities lending revenue was $40 million, representing a 2% monthly decline and a 34% decrease from a year earlier.
Robinhood Markets, Inc., headquartered in Menlo Park, California, is a publicly traded financial services company listed on the Nasdaq under the ticker symbol HOOD. The platform offers commission-free trading in stocks, exchange-traded funds, options, and cryptocurrencies through its mobile application and web interface.
