Luisa Crawford
Dec 12, 2024 06:36
Robinhood Markets, Inc. stories strong development in crypto buying and selling volumes and property underneath custody for November 2024, reflecting a major year-over-year enhance.
Robinhood Markets, Inc. (NASDAQ: HOOD) has launched its month-to-month working information for November 2024, showcasing spectacular development in a number of key areas, in response to GlobeNewswire. Notably, the corporate’s crypto buying and selling volumes surged over 500% from the earlier month, marking a exceptional 700% enhance year-over-year.
Key Metrics and Development
Robinhood’s November report highlighted a complete of 24.8 million funded accounts, reflecting a rise of roughly 420,000 from October and 1.5 million in comparison with the identical month final yr. Belongings underneath custody (AUC) additionally noticed a considerable rise, reaching $195 billion, which is a 22% enhance from October 2024 and a 106% year-over-year development.
The corporate’s internet deposits for November stood at $5.6 billion, translating to an annualized development fee of 42% relative to October’s AUC. Over the previous twelve months, internet deposits gathered to $47.4 billion, indicating a 50% annual development fee in comparison with November 2023.
Buying and selling Quantity Insights
Fairness notional buying and selling volumes had been reported at $147.1 billion, displaying a 16% enhance from October and a dramatic 178% rise year-over-year. Whereas choices contracts traded decreased by 2% from the earlier month, they elevated by 63% in comparison with November 2023. Most notably, crypto notional buying and selling volumes soared to $35.2 billion, highlighting a major development trajectory for Robinhood within the digital asset area.
Margin balances reached $6.8 billion on the finish of November, reflecting a ten% enhance from the earlier month and a 100% rise year-over-year. Whole money sweep balances had been additionally up by 4% to $26.5 billion, marking a 74% enhance in comparison with the prior yr.
Securities Lending and Income
Robinhood’s securities lending income in November was $23 million, a 21% enhance from October and a 109% rise year-over-year. This development in income enhances the general constructive trajectory in Robinhood’s monetary efficiency.
About Robinhood
Robinhood Markets, Inc. is thought for revolutionizing the monetary providers trade by providing commission-free buying and selling. Headquartered in Menlo Park, California, the platform supplies customers with the power to commerce shares, choices, and cryptocurrencies, alongside funding alternatives for retirement. Robinhood continues to ship worth to its prospects by means of progressive monetary merchandise designed for the trendy investor.
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