Robinhood’s April Crypto Volumes Fall 47% From Q1 Average, But Analysts See 3 Reasons To ‘Stay Constructive’

Mizuho Securities analysts remain optimistic about Robinhood’s (NASDAQ:HOOD) crypto business, despite trading volumes falling from a $15 billion monthly average in Q1 to $8 billion in April.

What Happened: Despite April’s volume decline, Mizuho Securities identified three key reasons to “stay constructive” on Robinhood’s crypto prospects:

• April’s $8 billion in crypto volume, while lower than recent months, still exceeds historical averages.
• Take rates are trending upward, with Q1 gross take rates reaching 57 basis points compared to 53 basis points in Q4 and just 37 basis points in the first half of 2024.
• History suggests volumes per funded account rarely remain suppressed when Bitcoin prices rise, as they did by 10% in April.

“Take rates are moving up – and we believe …

Full story available on Benzinga.com