Robinhood reported a 98% year-on-year increase in its crypto revenue, reaching $160 million in the second quarter. CEO Vlad Tenev announced plans to advance their tokenization strategy, targeting alternative assets that have traditionally been inaccessible to retail investors. Overall net revenue grew by 45% to $989 million, with net income rising by 105% to $386 million. Despite surpassing expectations, shares dipped in after-hours trading. The company's crypto trading volumes rose by 32% to $28 billion, reflecting a growing crypto market which expanded its total capitalization by 21.7% to $3.36 trillion. Tenev emphasized that tokenization represents a significant innovation, particularly for private markets like venture capital and real estate, aiming to collaborate with regulators for smoother access. However, the tokenization strategy has sparked legal discussions, particularly about private equity tokens. Tenev noted strong interest from developers in utilizing Robinhood's platform for their asset tokenization needs, asserting that their established user base and custodial assets position them uniquely in the market.

Source đź”—