Robinhood Markets Inc (NASDAQ: HOOD) reported select monthly operating data for July 2026, highlighting significant growth in platform assets and equity trading activity despite a contraction in crypto volumes. Total platform assets reached $355 billion at the end of July, representing a 19% increase from $298 billion in July 2025, though they declined 4% from June 2026’s $368.7 billion.

The company added approximately 80,000 funded customers in July, bringing the total to 28.5 million, up 7% year-over-year. Notably, this metric excludes Trump Accounts, although total platform assets and net deposits now include assets custodied by Robinhood and contributions from these accounts starting in July 2026.

Trading Volume Dynamics

Equity and options trading showed robust year-over-year growth, contrasting with a sharp decline in crypto activity. Equity notional trading volumes totaled $333 billion in July, up 59% from $209.1 billion in July 2025, but down 15% from June 2026. Average daily volumes (ADVs) for equities were $15.1 billion, up 56% year-over-year.

Options contracts traded reached 324 million, a 66% increase year-over-year, though only a 2% rise from June 2026. Conversely, crypto notional trading volumes fell 62% year-over-year to $10.9 billion. This decline was driven by both Robinhood App volumes, which dropped 74% year-over-year to $4.3 billion, and Bitstamp volumes, which fell 45% year-over-year to $6.6 billion.

Event contracts traded surged 20x year-over-year to 6.1 billion, reflecting growing engagement in prediction markets, despite an 8% month-over-month decline in ADVs.

Interest Earning Assets & Revenue

Interest earning assets remained substantial, with margin balances at $20.7 billion at the end of July, up 82% year-over-year. Cash and deposit balances rose 4% month-over-month to $19.5 billion, while cash sweep balances declined 13% year-over-year to $29.2 billion. The company noted that over $6 billion of cash sweep balances moved to free credit balances in February 2026 due to updates in its High-Yield Cash program.

Total securities lending revenue was $40 million in July, down 34% year-over-year from $61 million. Securities lending, net revenues stood at $1 million, a 97% decline from $37 million in July 2025.

What the Numbers Show

The divergence between equity and crypto trading volumes highlights a shifting user behavior pattern. While equity notional volumes surged 59% year-over-year to $333 billion, crypto volumes contracted sharply by 62% to $10.9 billion. This suggests that while the overall platform is attracting more capital (evidenced by the 19% rise in total platform assets), retail trading interest has migrated significantly away from cryptocurrency towards traditional equities and options during this period.

Net deposits of $5.6 billion in July represent an 18% annualized growth rate relative to June 2026 total platform assets. Over the last twelve months, net deposits totaled $74.9 billion, indicating a 25% annual growth rate relative to July 2025 total platform assets, underscoring sustained inflow momentum despite the monthly volatility in asset levels.

Robinhood Markets, Inc. (NASDAQ: HOOD) expanded its United Kingdom cryptocurrency ecosystem on Monday, launching a new trading offering in partnership with Bitstamp UK Ltd. The move allows eligible UK customers to trade more than 50 cryptocurrencies within the same application used for stocks and shares ISAs, equities, options, and futures. This expansion aims to deepen Robinhood’s presence in the European market by integrating digital assets into its existing financial services platform, potentially driving user engagement and transaction volume in a region with growing regulatory clarity for crypto assets.

The new service is marketed with zero trading fees and no account maintenance or custody fees. However, UK customers will incur a 0.10% foreign exchange (FX) fee, rising to 0.30% during specific weekend conversion windows. To support informed decision-making, Robinhood introduced Cortex Digests for Crypto, an artificial intelligence tool that synthesizes breaking news, market data, technical indicators, and proprietary insights to explain price movements in accessible language. Additionally, the launch opens Robinhood Chain, a Layer 2 blockchain powered by Arbitrum, to local developers.

Since its global launch on July 1, Robinhood Chain has recorded more than $18 billion in decentralized exchange (DEX) trading volume and over $840 million in total value locked. These figures highlight the network’s rapid adoption and utility, providing a foundational layer for the company’s broader Web3 strategy. The integration of this infrastructure into the UK market positions Robinhood to capture developer activity alongside retail trading demand.

What the Numbers Show

While the UK expansion represents a strategic growth vector, Robinhood’s stock performance reflects mixed technical signals. At $95.00, the stock trades within its longer-term range of $63.52 to $153.86. It sits 2.6% below the 20-day simple moving average (SMA) at $97.41 and 3.2% below the 200-day SMA at $98.08, indicating overhead supply pressure. However, the price remains 8.5% above the 100-day SMA at $87.46, suggesting the intermediate uptrend remains intact despite recent consolidation. The relative strength index (RSI) at 47.30 indicates neutral momentum, neither stretched enough to force a capitulation nor strong enough to drive a immediate breakout.

Analyst Outlook and ETF Holdings

Analysts maintain a consensus Buy rating for Robinhood, with an average price forecast of $115.06. Recent actions include Cantor Fitzgerald lowering its target to $115.00 and Goldman Sachs lowering its target to $118.00, while Citizens maintained a Market Outperform rating with a $155.00 target. Looking ahead, the next major catalyst is the estimated earnings report on November 4, 2026, where analysts project earnings per share (EPS) of 50 cents, down from 61 cents year-over-year, and revenue of $1.34 billion, up from $1.27 billion.

Robinhood holds significant weight in several key exchange-traded funds, meaning fund flows could impact stock liquidity. The ARK Blockchain & Fintech Innovation ETF (NYSE: ARKF) holds a 6.27% weight, followed by the iShares US Broker-Dealers & Securities Exchanges ETF (NYSE: IAI) at 5.67%, and the ARK Next Generation Internet ETF (NYSE: ARKW) at 5.35%. These concentrations suggest that institutional rebalancing or sector-wide sentiment shifts will have a pronounced effect on HOOD’s price action.