Shares in hybrid trading platform Robinhood Markets Inc (NASDAQ:HOOD) rallied 7% when US markets opened on Thursday following a bullish February trading update.
Robinhood’s cryptocurrency trading volumes rocketed up 86% year on year, penning $6.5 billion this February amid a remarkable bitcoin bull run.
Bitcoin’s price is currently up 70% year to date.
Assets Under Custody (AUC) at the end of February were $118.7 billion, up 16% from January 2024, with net deposits, though net deposits fell from $3.8 billion to $3.6 billion.
Active customers increased from 23.5 million in January to 23.6 billion in February.
Robinhood shares were traded at $18.3 at the time of writing.