Robinhood's Ethereum Layer-2 network, Robinhood Chain, processed 138 million transactions during its first 30 days of operation, marking a significant milestone for the brokerage's blockchain infrastructure push. The throughput figure places Robinhood Chain among the more active Ethereum L2 networks by transaction count, reflecting the company's entry into a competitive landscape that already includes Coinbase's Base network and other institution-backed scaling solutions. The figures emerged as part of an all-time-high quarterly performance disclosed through the company's investor-relations channels.

Robinhood Chain launched its public mainnet on July 1 and already supports tokenized stocks, exchange-traded funds, and decentralized finance services for eligible users across more than 120 countries. The Ethereum-compatible network underpins Robinhood's broader strategy of bridging traditional finance with on-chain settlement — a category that has drawn growing interest from asset managers and trading platforms exploring tokenized real-world assets.

Record Quarterly Performance

Second-quarter revenue reached $1.31 billion, representing a 32% year-over-year increase and surpassing Wall Street expectations. Net income climbed to $573 million, or $0.62 per share. That figure included a $129 million gain tied to the deconsolidation of Robinhood Ventures Fund I.

Total transaction-based revenue rose 44% to $776 million. Management stated that trading volumes in equities, options, and event contracts all set records during the period. The breakdown of transaction revenue revealed a notable shift in the company's revenue mix:

• Options: $342 million
• Event contracts (prediction markets): $156 million
• Equities: $129 million
• Crypto: $100 million

Prediction-market event contracts surged more than tenfold, exceeding both crypto trading revenue and equities revenue — a clear signal that event contracts, rather than digital assets, powered Robinhood's transaction engine this quarter. The growth aligns with a broader surge in prediction-market activity visible across platforms such as Polymarket during the same period.

Crypto Revenue Declines but Beats Estimates

Crypto transaction revenue fell 38% year over year to $100 million, down from $160 million in the same period a year earlier. However, the result surpassed the $86.6 million consensus estimate, suggesting that overall crypto volumes held up better than analysts had projected during a quarter characterized by softer digital-asset prices and reduced retail activity.

Crypto notional volume totaled $40 billion for the quarter. Robinhood's retail app accounted for $18 billion, down 35% year over year, while Bitstamp — the institutional exchange acquired by Robinhood — contributed $22 billion. The split highlights a meaningful shift of trading activity toward institutional venues following the acquisition.

Market Reaction

Despite the earnings beat, Robinhood shares declined approximately 3.1% during the regular session and fell roughly 4% further in extended trading. Investors appeared to focus on the crypto revenue slowdown rather than the broader upside. Adjusted earnings per share of $0.62 topped the $0.43 analyst estimate, and revenue exceeded the $1.29 billion consensus.

Platform Growth and New Products

Beyond trading, Robinhood's platform metrics reflected an expanding financial-services footprint:

• Funded customers increased to 28.4 million
• Platform assets reached a record $369 billion
• Robinhood Gold subscribers rose 39% to 4.8 million
• Quarterly net deposits totaled approximately $22 billion
• Subscription and other revenue reached $143 million
• Net interest revenue climbed to $389 million

Management noted that 13 business lines now generate at least $100 million in annualized revenue.

The company introduced Robinhood Earn, a decentralized lending product entering a category associated with protocols such as Aave. Robinhood also outlined crypto expansion plans targeting the U.K., Singapore, and the European Union.

Additionally, the company launched agentic trading tools that allow third-party AI trading bot software to execute trades within user-set parameters.

Tokenized Assets and Chain Activity

Robinhood Chain's public mainnet supports tokenized real-world assets and institutional finance applications. Stock tokens are available via Robinhood Wallet in over 120 countries. Daily decentralized exchange volume on the network exceeded $600 million, and tokenized stock turnover grew from $5 million to $60 million within approximately 14 days, according to company disclosures.

Tokenized equities such as GameStop, Nvidia, and SpaceX ranked among actively traded assets, though memecoins and stablecoins continue to dominate overall on-chain activity.

The quarter also saw the expansion of tokenized U.S. stocks to eligible European customers through Robinhood Chain.

Outlook

The current revenue mix indicates that prediction markets and subscription services are driving near-term growth, while crypto transaction fees remain under pressure. Deeper integration of Bitstamp and continued international expansion could support a recovery in crypto transaction revenue if digital-asset market conditions improve. According to COINOTAG's data, its Fear and Greed Index stood at 29/100 (signaling Fear), with Bitcoin representing 69.8% of a tracked total market capitalization of $1,840,840,384,772 — conditions that have kept retail appetite for higher-risk altcoins selective.

The central question for Robinhood going forward is whether its Ethereum-based infrastructure can translate into durable, recurring crypto revenue rather than isolated quarterly volume spikes.