On February 22, Robinhood unveiled a $1 billion Private Markets Fund that allows its retail user base to buy fractionalized secondary shares of high-profile private companies, initially including SpaceX and Stripe. The fund is integrated into the existing Robinhood app, leveraging the platform’s infrastructure to offer private market access alongside public equities.

By opening stakes in late-stage private firms, Robinhood seeks to differentiate its product suite, attract new account sign-ups, and deepen engagement with existing users. The initiative has the potential to boost Robinhood’s assets under management and generate recurring fee income as private market participation grows on its platform.