Robinhood Crypto Trading Volume Drops 48% to $17B in October

Robinhood crypto trading volume fell 48% year over year to $17 billion in October 2026 across its app and Bitstamp, the company said on November 13. The total was also down 21% from September, according to Bitcoin Magazine.

Event-contract activity moved in the opposite direction: customers traded 5.9 billion contracts, up 136% from a year earlier. The October figures put weaker crypto trading alongside growth in prediction markets, equities and options at the start of Robinhood’s fourth quarter.

🧩Robinhood Crypto Trading Volume Falls Across Both Platforms
📖Robinhood's Event Contracts Grow Ahead of the Midterms
🎯Robinhood Keeps Expanding Its Crypto Business
📖Lower Crypto Activity Puts Transaction Revenue in Focus
📖Bitcoin and ETF Selling Frame the November Outlook
⚠️Robinhood Faces Revenue and Regulatory Risks
🧩What to Watch in Robinhood's Next Updates
❓FAQ

Robinhood Crypto Trading Volume Falls Across Both Platforms

How Much Did Crypto Trading Fall in October?

The combined crypto total fell from $32.5 billion in October 2025 to $17 billion in October 2026. The 48% annual decline was substantially steeper than the 21% retreat from September, putting the weakness across both comparison periods.

Average daily crypto volume also declined, reaching $548 million in October against $713 million in September and approximately $1.05 billion a year earlier. Trading activity therefore weakened on a daily basis as well as across the full month.

How Did the Robinhood App and Bitstamp Each Perform?

Crypto volume through Robinhood’s flagship app reached $6.8 billion, down 24% from September and 51% from October 2025. The app’s annual decline was the sharper of the two businesses.

Bitstamp handled $10.2 billion, down 18% month over month and 45% year over year. The exchange contributed more dollar volume than the flagship app, but it also contracted across both periods. Weakness extended across the two platforms included in Robinhood’s crypto total.

Which Businesses Does the Headline Figure Cover?

Robinhood bought Bitstamp in 2025, bringing the exchange into its expanding crypto business. The October 2026 operating total combines activity on that exchange with trading through the Robinhood app.

The platform breakdown matters for readers following Robinhood’s retail business: the app accounted for $6.8 billion of the combined figure, while the acquired exchange handled the larger amount. Both businesses enter the next operating update with lower activity than in September.

Robinhood’s Event Contracts Grow Ahead of the Midterms

How Fast Did Event-Contract Trading Grow?

Customers traded 5.9 billion event contracts in October, compared with 2.5 billion a year earlier. Alongside the 136% annual increase, activity rose 5% from September, and average daily trading reached 190 million contracts.

The stronger annual growth came during a politically active reporting window. October covered the final weeks before the November 3 midterm elections, placing election-related trading among the events surrounding the business’s expansion.

What Events Can Customers Trade?

Robinhood’s event-contract offering covers outcomes involving elections, sports and economic data. That gives the business activity tied to several different calendars, including political contests and scheduled economic releases.

The next monthly update will cover November, including the midterm elections themselves. It will provide a comparison with October’s 5.9 billion contracts after the final pre-election weeks helped frame the month’s trading environment.

Who Is Challenging Prediction-Market Platforms?

Louisiana sued Kalshi, Robinhood and other prediction markets on November 12, The Block reported. The action adds another state to the legal dispute involving prediction-market platforms, states and the federal government.

The expanding event-contract business also faces political pressure. Senator Elizabeth Warren plans to pursue a crackdown on prediction markets and election-betting platforms and is set to chair the Senate Banking Committee in January, according to the account of Robinhood’s operating update.

Robinhood Keeps Expanding Its Crypto Business

What Did the Dubai License Add to Robinhood’s Plans?

Robinhood obtained a Dubai license in October to offer bitcoin and stock trading in the Middle East beginning in 2027. The authorization extends its planned geographic reach while trading activity in its existing crypto businesses is declining.

The rollout gives Robinhood another business milestone beyond the current reporting cycle. The company is preparing to enter that market as it integrates activity from the flagship app and Bitstamp into its broader crypto operations.

How Does the Bitstamp Acquisition Fit the Expansion?

The 2025 acquisition gave Robinhood ownership of a crypto exchange that now contributes the larger portion of its combined monthly dollar volume. October’s $10.2 billion at Bitstamp exceeded the $6.8 billion traded through the Robinhood app.

That acquisition and the Dubai license show two parts of Robinhood’s crypto expansion: an established exchange business and planned access to another region. Both sit alongside the immediate operating challenge of lower trading activity.

Lower Crypto Activity Puts Transaction Revenue in Focus

Why Does the Volume Decline Matter for Robinhood?

Crypto trading generates transaction revenue for Robinhood, making trading activity an important part of its financial performance. Lower volume generally means fewer associated fees, putting the October contraction in focus ahead of the company’s full fourth-quarter results.

The combined decline reaches both the flagship app and Bitstamp. That leaves Robinhood looking for a recovery across its existing crypto operations while continuing the expansion planned for 2027.

How Did the Rest of Robinhood’s Brokerage Perform?

Equity notional volume reached $325 billion in October, up 2% from a year earlier. Options activity increased 8% to 289 million contracts, giving both businesses annual growth while crypto trading declined.

Margin balances rose 39% year over year to $22.9 billion. Together, those figures give Robinhood a broader mix of operating trends heading into its quarterly results: weaker crypto activity, growing securities trading and a larger margin balance.

What Happened to Deposits and Platform Assets?

Company-wide net deposits totaled $15.1 billion in October. Total platform assets reached $383 billion, down 3% from September but up 12% from October 2025.

The monthly asset decline accompanied positive net deposits and annual asset growth. For Robinhood’s financial outlook, that places the immediate transaction-revenue pressure from crypto alongside continued inflows into the wider platform.

Bitcoin and ETF Selling Frame the November Outlook

What Happened to Bitcoin Around the Operating Update?

Bitcoin ended September near $83,500 and subsequently weakened, falling below $70,000 early on November 13 for the first time since August as a hot inflation report increased expectations of a Federal Reserve rate hike in December.

That leaves November’s operating period facing a fresh test of trading demand. Robinhood’s next monthly release will cover activity through the selloff, following October’s declines in both average daily crypto volume and total dollar volume.

How Did Institutional Bitcoin Demand Change?

U.S. spot bitcoin exchange-traded funds recorded a sixth consecutive day of net outflows on November 12. BlackRock’s IBIT lost approximately $2 billion over nine sessions through November 11, and U.S. spot bitcoin ETFs erased their net inflows for 2026.

The November withdrawals put institutional demand under pressure as Robinhood prepares its next operating update. Retail trading activity and ETF flows will both be in focus as the company moves further into its fourth quarter.

Robinhood Faces Revenue and Regulatory Risks

What Could Keep Pressure on Crypto Transaction Revenue?

A continuation of October’s lower trading activity would keep pressure on associated crypto fees. Both Robinhood’s app and Bitstamp entered November after monthly and annual volume declines, making the performance of each platform relevant to the next update.

A recovery in trading activity would give the business a stronger volume base heading toward quarterly results. The next comparison will be against October’s $17 billion combined total and $548 million in average daily volume.

What Could Challenge Event-Contract Growth?

Louisiana’s lawsuit places Robinhood’s growing prediction-market business inside an escalating legal dispute. Warren’s planned action adds a separate prospective policy challenge as the company enters 2027.

The business is also moving beyond the final pre-midterm weeks covered by October’s figures. November activity will show how contract trading develops through the election month while legal and political scrutiny continues.

What to Watch in Robinhood’s Next Updates

What Will November’s Operating Figures Add?

The next monthly release will put crypto activity after the November bitcoin selloff alongside event-contract trading during the midterm-election month. It will also update the separate volume totals for the Robinhood app and Bitstamp.

For the wider brokerage, the same release will offer another look at equity and options trading, deposits and platform assets. Those businesses provide the context for assessing whether October’s split between crypto weakness and growth elsewhere continues.

When Are Robinhood’s Next Financial and Expansion Milestones?

Robinhood is scheduled to release its full fourth-quarter results early in 2027. Those results will bring the company’s quarterly financial performance into view after October provided the first monthly operating figures for the period.

The planned Middle East rollout follows in 2027, supported by the Dubai license obtained in October. Robinhood therefore enters the next reporting cycle with an international expansion ahead and pressure to rebuild trading activity in its existing crypto business.

FAQ

Does Robinhood’s reported crypto trading total include Bitstamp?

Yes. The $17 billion October total includes both the flagship app and the exchange Robinhood acquired in 2025. Bitstamp contributed the larger dollar amount during the month.

How many crypto trades per day did Robinhood and Bitstamp average in October?

The platforms averaged approximately 700,000 crypto trades per day. That was down from 900,000 in September and 1.1 million in October 2025.

How many funded customers did Robinhood report at the end of October?

Robinhood ended the month with 28.9 million funded customers after adding approximately 130,000 during October. The figure covers the company’s customer base across its business.

Are Robinhood’s monthly operating figures audited?

The monthly figures are preliminary and unaudited. October’s release provides the opening monthly operating update for the fourth quarter, with full quarterly results due early in 2027.

Do crypto and event-contract activity use the same reporting calendar?

Yes. Robinhood uses the full 31-day October calendar for both because both markets trade every day. Its crypto total is expressed in dollar volume, while event activity is expressed as a number of contracts.

Why did Robinhood say its cash and deposit balances fell in October?

The company said customers were net buyers, which was the main reason cash and deposit balances fell 20% to $16.4 billion. It also said that decline had largely reversed in early November.

What products are included in Robinhood’s planned Middle East rollout?

The Dubai license supports plans to offer bitcoin and stock trading in the Middle East. Robinhood intends to begin those services in 2027.

This article is for information only and is not financial advice.