Robinhood Markets Inc. (NASDAQ: HOOD) shares gained momentum on Thursday, rising 5.08% to trade at $99.73 at the time of publication. The price movement followed the trading debut of Robinhood Ventures Fund II (RVII) on the New York Stock Exchange under the ticker symbol RVII.

The fund priced its initial public offering of 8,000,000 common shares of beneficial interest at $25 per share. This pricing established an initial fund size of $225.5 million prior to sales loads and offering expenses. Underwriters hold a 30-day option to purchase up to 1,200,000 additional shares, which would raise total fund capital to $255.5 million. RVII operates as a business development company and closed-end fund targeting early-stage private companies.

Technical Positioning

HOOD is trading above its key long-term trend gauges. At the time of coverage, the stock was trading 4.8% above the 20-day simple moving average ($95.11) and 2.3% above the 200-day simple moving average ($97.52). This trajectory keeps the broader outlook constructive despite a choppy year.

The short-term trend remains complex, with the 20-day SMA sitting below the 50-day SMA, a configuration that often indicates consolidation rather than a clean trend. The Relative Strength Index (RSI) stood at 54.57, a neutral reading suggesting balanced momentum with room for movement in either direction if price clears or loses key levels.

What the Numbers Show

The relationship between the short-term and long-term moving averages highlights a divergence in momentum. While the stock has reclaimed its position above the critical 200-day SMA ($97.52), signaling long-term stability, it remains below the 50-day SMA. This structure suggests that while the immediate upward pressure from the RVII debut is positive, the stock is still in a phase of rebuilding rather than accelerating into a new high-momentum trend.

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.