Robinhood has cemented its foothold in the crypto trading market as its commission-free model attracts price-conscious customers, analysts said, strengthening its position as a rival to digital asset-focused exchanges such as Coinbase .

The amount of funds Robinhood is sitting in also delivering for the company, with net interest revenue growing 25%, to $296 million, while other revenue, which includes the company’s gold subscription service, was up 31% year-over-year to $46 million. Assets under custody as of the end of the year sat at $613 million, up over 300%.

Robinhood Markets, the Menlo Park, California-based firm that rose to prominence during the 2021 GameStop short squeeze, surpassed $1 billion in revenue during its fourth quarter. The surge was largely driven by the success of its crypto trading operation during the 2024 presidential election,

Robinhood Markets Inc. reported fourth-quarter revenue, surpassing analyst estimates, driven by cryptocurrency transactions. Crypto revenue surged over 700%, fueled by market activity surrounding the U.