According to Cointelegraph: Contrary to expectations, Bitcoin ETFs have not eclipsed spot Bitcoin trading among Robinhood users, states company CFO Jason Warnick following the release of strong Q4 2023 performance figures. Bitcoin spot trading remains the dominant choice for the vast majority of the platform's crypto traders.
Improvements in crypto transaction revenue were a vital element in Robinhood's positive Q4 results, with company revenues reaching $1.87 billion for 2023, up 37% year-on-year. Q4 revenues alone amounted to $471 million, surpassing Zacks' analyst estimates by over 3% and sparking a surge in Robinhood's stock price.
Crypto trading revenue for Q4 2023 reached $43 million, reflecting a 10% yearly increase. Notably, Robinhood's notional crypto trading volume in Q4 rose by 89% compared to Q3, fueled by customer growth and higher trade volumes.
