Robinhood Customers Hit 26.7 Million In July, Total Platform Assets Rise 7% As Crypto Volumes Surge

by Adam Eckert Benzinga Editor

Zinger Key Points

Robinhood's total platform assets rise to $298 billion in July, up 106% on a year-over-year basis.
Funded customers increase to 26.7 million at the end of July, up about 160,000 from the end of June.
See the seasonal trading strategy that's beating the S&P 500 by 6X this year. Details here →

Robinhood Markets Inc HOOD shares are seeing some increased attention in Wednesday’s after-hours session after the company reported monthly operating metrics for July.

What Happened: Robinhood said total platform assets climbed 7% from June to $298 billion in July, up 106% on a year-over-year basis. The company reported $6.4 billion of net deposits in July, bringing total net deposits up to $60.1 billion over the past 12 months.

Funded customers grew to 26.7 million at the end of July, up about 160,000 from June and up 2.5 million from July 2024.

Equity notional trading volumes totaled $209.1 billion last month, up 17% from June and up 100% year-over-year. Options contracts traded were up 16% month-over-month and 22% on a year-over-year basis to 195.8 million in July. Crypto notional trading volumes experienced even stronger growth, up 110% from June and 217% year-over-year to $16.8 billion.

Margin balances climbed 111% year-over-year to $11.4 billion, marking a 20% increase from the end of June. Total cash sweep balances were $33.6 billion at the end of July, up 3% from June and up 54% year-over-year.

How To Buy HOOD Stock

By now, you're likely curious about how to participate in the market for Robinhood — be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.

HOOD Price Action: Robinhood shares were up 0.72% in after-hours, trading at $109.40 at the time of publication on Wednesday, according to Benzinga Pro.

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