Robinhood Recorded $119 Billion in Notional Cryptocurrency Trading Volume This Year: Report

The cryptocurrency division of American financial services company Robinhood has published its year-end report for 2024, outlining its growth and expansion into new markets over the past 11 months.

In addition to the release of the report, Robinhood Crypto is celebrating the one-year anniversary of launching a digital asset trading division in Europe.

Robinhood releases year-end report

According to the reportRobinhood Crypto recorded a nominal trading volume of $119 billion and $38 billion in crypto assets under custody in November 2024. The entity said that 2024 was an important year for its business due to the milestones it achieved.

Robinhood Crypto expanded its services in the United States by achieving full coverage in 50 states and territories, including Hawaii, Puerto Rico, and the US Virgin Islands. The company increased the number of cryptocurrencies available in the US to 20 adding new assets like Solana (SOL), Pepe (PEPE) and dogwifhat (WIF).

It also launched a new trading application programming interface for its US users, offering tools to view market data, manage portfolios and place advanced orders.

In Europe, Robinhood added 14 new coins for local customers, bringing the number of supported assets to 40. The company also launched SOL and ether (ETH) for its European users.

Regulatory challenges

Furthermore, the Robinhood crypto wallet saw notable developments. The crypto company launched the wallet on Android and introduced advanced exchange features on several Ethereum-based networks, including Arbitrum, Optimism, Polygon, and Base. The company also redesigned its token discovery tab, making it easier for users to find and manage their assets.

It is worth mentioning that Robinhood’s experience in 2024 was not without challenges. The U.S. Securities and Exchange Commission (SEC) slapped the entity with a Wells Notice in May, signaling a threat of legal action over the company’s securities law violations. While the SEC has not yet filed the lawsuit, Robinhood’s crypto business has performed well over the year.

Johann Kerbrat, Vice President and CEO of Robinhood Crypto, said:

“2024 marked an important year for the cryptocurrency landscape and recent events suggest that 2025 is set to be an even more transformative year, with broader adoption anticipated across the industry.”