Robinhood Shares Slump 30% As Crypto DARTs Plunge 44%
Robinhood shares have slid nearly 30% YTD as Bitcoin tumbled from about $88,000 to $68,000 and crypto DARTs plunged 44% to 0.5 million, while Q4 crypto revenues fell 38%. The company is pursuing MiCA licensing in 27 EU countries and closing the WonderFi deal to bolster crypto services.
1. Crypto-Driven Stock Decline
Robinhood shares have dropped nearly 30% year-to-date after Bitcoin declined from about $88,000 to $68,000, reflecting a risk-off environment. Reduced crypto trading volumes and tighter spreads have pushed transaction revenue lower.
2. Revenue Impact and Metrics
Crypto transaction metrics deteriorated significantly, with Daily Average Revenue Trades plunging 44% year-over-year to 0.5 million in January and Q4 crypto revenues down 38%. Lower customer activity and shrinking spreads have cut a substantial portion of Robinhood’s transaction-based income.
3. Crypto Expansion Initiatives
To rebuild momentum, Robinhood is pursuing MiCA licensing to offer crypto services across 27 EU countries and is closing the WonderFi acquisition in H1 2026. It closed the Bitstamp acquisition in June 2025 and supports major tokens such as Bitcoin, Ethereum, Dogecoin, Litecoin, Solana and Toncoin.
4. Diversification and Risk Management
The firm has diversified beyond brokerage, launching AI assistant Cortex, the Legend trading platform and Social community features, while reducing transaction revenue share from 75% in 2021 to 59% in 2025. Strategic moves include acquiring a majority stake in MIAX Derivatives Exchange and TradePMR to expand futures, derivatives and wealth-management services.