Robinhood’s February data shows that crypto notional volume increased by 9% to $25 billion, while equity, options and event contracts fell, proving that speculative energy has returned to coins.
Conclusion
- Crypto notional trading totaled $25.0 billion in February, up 9% month-over-month and 74% year-over-year, with $9.4 billion on the app and $15.6 billion moved through Bitstamp.
- Equity contracts fell to $194.4 billion, down 14% from January, while options contracts fell 10% to $180.3 million, underscoring cooling risk appetite outside of coins.
- Event contracts are down 29% from January, indicating that speculative flow is moving away from Robinhood’s forecasted markets and back to volatile crypto names.
Robinhod’s February numbers are clear: crypto is where life is, everything fades.
Robinhood’s crypto volume rises in February
Robinhood reported that cryptocurrency trading volume in February was $25.0 billion, up 9% month-over-month and 74% year-over-year. Of that, $9.4 billion was channeled through the Robinhood program itself, and the remaining volume was channeled through Bitstamp, which was acquired by Robinhood in 2025 and is now used as its institutional and deep liquidity arm. This follows January’s $22.9 billion crypto volume, meaning Robinhood has posted consecutive months of consecutive increases in digital asset activity through 2026.
The crypto boom comes as Bitcoin trades near all-time highs and volatility returns between the underlying and adjacent tokens, attracting both in-app retail and bigger-ticket flows through Bitstamp. For Robinhood, this combination is ideal: more common, fatter spreads and higher engagement in a product line that was supposed to be dead after 2021, but is now the only one that is really improving.
Stocks, options and futures contracts are declining
Everything outside of crypto is going the other way. Notional volume of stock trading in February was $194.4 billion, down 14% from January, although it represented a 36% increase from a year earlier. Options contracts traded fell to 180.3 million, down 10% on the month and only a 9% gain on the year, with average daily option volume at 9.5 million contracts, down 5% from January.
The biggest hit is in Robinhood’s event contracts – its market-style prediction products. A total of 2.4 billion event contracts were traded in February, down 29% from January levels, which was part of the company’s growth as part of a post-meme diversification. This tells you where the speculative energy has turned: away from binary macro betting and back to leverage games on BTC and friends.
What this rotation actually means
In terms of market structure, Robinhood only reflects the broader tape: crypto volatility and upside trends attract flows at the margins, while equity and options trades cool off after a heavy run. For crypto markets, more retail flow through Robinhood and Bitstamp means more noise, forced buying and selling around headlines and fat tails on both sides during a Fed shock or macro shock.
