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<a href="https://bitcoinworld.co.in/spot-bitcoin-etfs-contribute-5-to-robinhoods-crypto-trading-volume/" title="Spot Bitcoin ETFs Contribute 5% To Robinhood’s Crypto Trading Volume" rel="nofollow"></a>
Robinhood on Tuesday revealed that about 5% of its total crypto trading volume originates from the recently introduced spot Bitcoin ETFs. 
The remaining 95% still stems from spot trading conducted within the platform’s crypto division. 
During the quarterly earnings call, CFO Jason Warnick said the platform is seeing “nice interest in the ETFs, but we think it’s additive.” 
“We feel really good to offer the selection for customers. We think it increases overall market interest in crypto and also brings liquidity to the market. So, net-net, we’re really pleased with the Bitcoin ETFs,” he said. 
The SEC approved 11 spot Bitcoin ETFs in January, a milestone moment for the digital asset sector as it expands access to the leading crypto on Wall Street and beyond.&nbsp; 
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Robinhood swiftly integrated all 11 ETFs to provide to its customers. 
“There were some traders that sold out a spot and got to ETF, but that was really more of the exception. And we also offer the ETFs in our retirement accounts, which accounted for some of the pickup as well,” Warnick said. 
<h3 id="span-style-font-weight-400-robinhood-s-4q-revenue-hits-471m-exceeds-analyst-expectations-span">Robinhood’s 4Q Revenue Hits $471M, Exceeds Analyst Expectations</h3> 
In the fourth quarter, Robinhood <a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Reports-Fourth-Quarter-and-Full-Year-2023-Results/default.aspx">reported</a> an 8% jump in transaction-based revenues to $200m. The growth was mainly fueled by crypto revenue, which surged 10% to $43m. 
Overall fourth-quarter revenue increased by 24% to $471m, with earnings per share at $0.03. This surpassed analysts’ estimates of $457m and an expected loss of $0.01 per share. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 JUST IN: 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;"> Robinhood's Q4 crypto revenue rose 10% to $43M, driving a 15% stock surge. Its crypto trade volume surged 89%, hinting at positive earnings for Coinbase. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Robinhood also plans to expand globally and has seen a strong start in 2024. 
 — House of Chimera (@HouseofChimera) <a href="https://twitter.com/HouseofChimera/status/1757570513130471871?ref_src=twsrc%5Etfw">February 14, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In a presentation, the company revealed that notional crypto trading volume rose by 89% compared to the previous quarter due to increased customer activity. 
<h3 id="span-style-font-weight-400-global-expansion-gains-traction-span">Global Expansion Gains Traction</h3> 
Robinhood marked its international debut in the last few months.&nbsp; 
It first set out to launch stock brokerage services in the UK, followed by expanding its crypto offerings into the European Union, enabling users to trade over 25 digital currencies. 
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CEO Vlad Tenev said that the trading app’s internal expansion has attracted tens of thousands of international customers thus far. 
“We’re investing a larger amount into crypto, both in the EU and domestically. I think there is a ton of improvements left to make,” he said. 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/spot-bitcoin-etfs-contribute-5-to-robinhoods-crypto-trading-volume/">Spot Bitcoin ETFs Contribute 5% To Robinhood’s Crypto Trading Volume</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Spot Bitcoin ETFs Contribute 5% To Robinhood’s Crypto Trading Volume

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