Key Takeaways
- • Robinhood (HOOD) added $25 million in bitcoin to its corporate balance sheet, disclosed by Johann Kerbrat, senior vice president and general manager of crypto and international, to The Block on October 7, 2026.
- • HOOD closed down 2.22% at $109.51 on October 7, roughly ten times the 0.22% declines in the S&P 500 and Nasdaq, as bitcoin fell below $83,000 after about $696 million in liquidations over 24 hours (per Coinglass).
- • Q3 crypto notional volume (app plus Bitstamp) reached roughly $45 billion through September 24, already above Q2's $40 billion, though August volume was still down 38% year over year.
- • Q2 crypto revenue fell 38% to $100 million, leaving crypto as one of the weaker segments in an otherwise record quarter.
- • Robinhood plans to bring perpetual futures to eligible U.S. customers "in the coming months," following their unveiling at HOOD Summit on September 29.
Summary
Robinhood Markets disclosed that it had put $25 million of corporate cash into bitcoin, a move reported by The Block after an interview with Johann Kerbrat on October 7, 2026. Kerbrat downplayed the purchase, stating that "the $25 million worth of bitcoin is not going to change a lot of the current trajectory of the company." A CNBC headline on the same story noted that Robinhood shares dropped 8% despite a surge in Q3 crypto revenue, while a separate report noted that the company's finance chief had questioned in 2025 whether holding bitcoin on the balance sheet made sense.
The purchase coincided with a broader crypto selloff. Bitcoin fell below $83,000 after roughly $696 million in liquidations over 24 hours, according to Coinglass data, and Coinbase and Strategy also declined. HOOD closed down 2.22% at $109.51 that day, a move far larger than the modest declines in the S&P 500 and Nasdaq.
Robinhood's investor relations data points to a stronger underlying crypto trend. Crypto notional volume was $10.9 billion in July and $17.5 billion in August, with a further $17 billion traded from September 1 through September 24. That puts Q3 at roughly $45 billion with six days still uncounted, ahead of Q2's $40 billion. The recovery is incomplete, however: August volume remained 38% below the prior year, and Q2 crypto revenue fell 38% year over year to $100 million. Separately, event contract trading reportedly rose 15 times to 4.7 billion contracts.
Management has framed crypto as a strategic priority. Chief Executive Vlad Tenev told the Goldman Sachs Communacopia + Technology Conference on September 9 that "our crypto business is very significant business," and argued that offering futures, spot, and prediction markets in one platform makes it "sort of a complete solution for crypto traders." Perpetual futures, unveiled at HOOD Summit on September 29, are slated to reach eligible U.S. customers in the coming months.
The purchase coincided with a broader crypto selloff. Bitcoin fell below $83,000 after roughly $696 million in liquidations over 24 hours, according to Coinglass data, and Coinbase and Strategy also declined. HOOD closed down 2.22% at $109.51 that day, a move far larger than the modest declines in the S&P 500 and Nasdaq.
Robinhood's investor relations data points to a stronger underlying crypto trend. Crypto notional volume was $10.9 billion in July and $17.5 billion in August, with a further $17 billion traded from September 1 through September 24. That puts Q3 at roughly $45 billion with six days still uncounted, ahead of Q2's $40 billion. The recovery is incomplete, however: August volume remained 38% below the prior year, and Q2 crypto revenue fell 38% year over year to $100 million. Separately, event contract trading reportedly rose 15 times to 4.7 billion contracts.
Management has framed crypto as a strategic priority. Chief Executive Vlad Tenev told the Goldman Sachs Communacopia + Technology Conference on September 9 that "our crypto business is very significant business," and argued that offering futures, spot, and prediction markets in one platform makes it "sort of a complete solution for crypto traders." Perpetual futures, unveiled at HOOD Summit on September 29, are slated to reach eligible U.S. customers in the coming months.
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