In June 2025, Robinhood closed a $200 million all-cash deal for Bitstamp, the world’s longest-running cryptocurrency exchange founded in August 2011 by Nejc Kodrič and Damijan Merlak. The exchange had run continuously through the Mt. Gox era, a 2015 hot wallet hack and three changes of ownership, and now operates as “Bitstamp by Robinhood” while keeping its Luxembourg headquarters intact. The numbers behind that handover, plus the new EU MiCA license and the April 2026 perpetual futures launch, sit below.
Key Takeaways
- Bitstamp closed under Robinhood on June 2, 2025, for $200 million in an all-cash deal first announced in June 2024.
- At close, the exchange served approximately 500,000 retail customers and 5,000 institutional clients across the US, EU, UK and Asia.
- Luxembourg’s CSSF granted Bitstamp the EU’s MiCA CASP license on May 16, 2025, making it the first MiCA-licensed exchange in the country.
- Kaiko’s Q1 2026 ranking placed Bitstamp by Robinhood at #2 of 44 global spot exchanges with an overall Exchange Score of 81.10 and its fifth consecutive AA rating.
- Bitstamp’s June 2025 notional volume ran approximately 90% institutional and 10% retail at an average revenue rate near 5 basis points per dollar, per Robinhood’s Q2 2025 disclosure.
- On April 9, 2026, Bitstamp by Robinhood launched crypto perpetual futures on its web platform for eligible EU traders, with a 10x leverage cap across 10 supported assets.
- Bitstamp now holds over 50 active licenses and registrations globally and operates offices in Luxembourg, the UK, Slovenia, Singapore and the US.
Editor’s Choice
- Bitstamp by Robinhood reported a 24-hour spot trading volume of $236,983,631.51 and total exchange assets of $2,121,062,459.65 on CoinMarketCap on June 30, 2026.
- Robinhood’s parent company Q2 2025 revenue reached $989 million (up 45% year over year), with crypto revenue alone climbing 98% to $160 million.
- Robinhood reported crypto assets under custody of $51 billion as of Q3 2025, with trailing-twelve-month notional volume of $232 billion including Bitstamp’s June through September contribution.
- Robinhood expected approximately $65 million of Bitstamp-related costs in 2025 as part of the integration.
- Bitstamp lists over 115 carefully selected digital assets, with 237 active trading pairs available to customers.
- Bitstamp scored 94.07 in Security, 92.31 in Technology, and 89.47 in Business in Kaiko’s Q1 2026 evaluation.
- Bitstamp was founded in August 2011 by Nejc Kodrič and Damijan Merlak in Slovenia, making it the longest continuously operating crypto exchange.
Bitstamp Market Position and Trading Volume
Bitstamp, by Robinhood, reported a 24-hour spot trading volume of $236,983,631.51 and a total exchange asset base of $2,121,062,459.65 on the CoinMarketCap snapshot for June 30, 2026. That asset-to-daily-volume ratio sits near 9x, the kind of cushion typical for spot exchanges that route institutional flow rather than chase retail churn.
- 24-hour spot volume: $236,983,631.51 across all markets on June 30, 2026.
- Total exchange assets: $2,121,062,459.65 reported by CoinMarketCap.
- Digital assets listed: Over 115 spot-listed tokens.
- Established: 2011, branded as “Bitstamp by Robinhood” since the June 2025 close.
- Kaiko Q1 2026 rank: #2 of 44 spot exchanges with a score of 81.10.
- Bitstamp’s quiet $200 million sale stood out for what it was not: it was not a distressed sale, not a regulatory escape, and not a US-driven consolidation. The deal valued an old-line EU exchange at less than four months of Robinhood’s own Q2 2025 revenue.
| Snapshot metric (June 30, 2026) | Value |
|---|---|
| 24-hour spot trading volume | $236,983,631.51 |
| Total exchange assets | $2,121,062,459.65 |
| Digital assets listed | 115+ |
| Active trading pairs | 237 |
| Kaiko Q1 2026 rank | #2 of 44 |
| Kaiko overall Exchange Score | 81.10 |
Source: CoinMarketCap and Kaiko Q1 2026 Exchange Ranking, June 2026.
Bitstamp by Robinhood Customer Base
At the June 2 close, Bitstamp brought approximately 500,000 retail investors and roughly 5,000 institutional clients into Robinhood’s customer base, spread across the US, EU, UK and Asia. Bitstamp framed the acquisition as bringing its institutional lending, staking, and trading API capabilities to Robinhood, enabling expansion into institutional services such as crypto-as-a-service.
- ~500,000 retail accounts inherited at close.
- ~5,000 institutional clients per Fortune’s June 2025 report at the time of close.
- 115+ digital assets listed across the Bitstamp spot exchange as of the June 2026 CoinMarketCap snapshot.
- Approximately 90% of Bitstamp’s June 2025 notional volume came from institutional clients per Robinhood’s Q2 2025 earnings transcript.
- Approximately 10% of June 2025 notional volume came from retail accounts per Robinhood’s Q2 2025 disclosure.
- Average revenue rate at Bitstamp ran near 5 basis points per dollar of notional traded.
Recent Developments
- April 9, 2026: Bitstamp by Robinhood launched crypto perpetual futures on its web platform for eligible EU traders with a 10x leverage cap.
- Q1 2026: Kaiko’s Q1 2026 ranking lifted Bitstamp by Robinhood to #2 of 44 spot exchanges with an Exchange Score of 81.10 and a fifth consecutive AA rating.
- Q3 2025: Robinhood reported $51 billion of crypto assets under custody and $232 billion in trailing-twelve-month notional volume, with Bitstamp contributing for the first time from June onward.
- Q2 2025 results: Robinhood’s Q2 2025 earnings disclosed Bitstamp’s roughly 90/10 institutional-versus-retail volume mix and a 5 basis point average revenue rate at the exchange.
- June 2, 2025: Robinhood closed the $200 million all-cash acquisition of Bitstamp first announced in June 2024.
- May 16, 2025: Luxembourg’s CSSF granted Bitstamp the EU’s MiCA CASP license, the first issued to a crypto exchange headquartered in the country.
Robinhood Acquisition Financials and Deal Terms
Robinhood announced its acquisition of Bitstamp in June 2024 and closed the transaction on June 2, 2025, for $200 million in cash. Bitstamp brought its institutional lending and staking products plus its trading API into Robinhood, enabling expansion into institutional services such as crypto-as-a-service.
- $200 million all-cash transaction price.
- Announced June 2024; closed June 2, 2025.
- $160 million in Robinhood crypto revenue during Q2 2025, up 98% year over year and inclusive of Bitstamp’s June contribution.
- $989 million in total Robinhood Q2 2025 revenue, up 45% year over year.
- Approximately $65 million of Bitstamp-attributable operating costs expected at Robinhood across full-year 2025.
- $51 billion of crypto assets under custody at Robinhood as of Q3 2025 after Bitstamp’s first full quarter inside the parent.
- $232 billion in trailing-twelve-month crypto notional through Q3 2025, including Bitstamp’s June through September flow.
- Robinhood’s pre-acquisition crypto book accounted for 27% of Q1 2025 revenue, after a record $1 billion crypto print in Q4 2024 driven by a 500% surge in transaction revenue.
| Robinhood acquisition + Q2 2025 figure | Value |
|---|---|
| Acquisition price (all-cash) | $200 million |
| Robinhood Q2 2025 total revenue | $989 million |
| Robinhood Q2 2025 crypto revenue | $160 million |
| Bitstamp June 2025 institutional share of notional | ~90% |
| Bitstamp June 2025 retail share of notional | ~10% |
| Bitstamp average revenue rate per dollar | ~5 basis points |
| Robinhood Q3 2025 crypto assets under custody | $51 billion |
Source: Robinhood Q2 2025 earnings transcript and 2025 “Year in Crypto” newsroom update, July and December 2025.
Global Regulatory Footprint and Licenses
Bitstamp now operates with over 50 active licenses and registrations worldwide spanning the EU, UK, US and Asia. The license stack reflects roughly a decade of jurisdiction-by-jurisdiction grinding: a Luxembourg payment institution authorization in 2016, a New York BitLicense for the US subsidiary in 2019, and the EU’s first MiCA CASP authorization in 2025.
- April 2016: Luxembourg granted Bitstamp a payment institution license, the first awarded to a crypto exchange in the EU.
- April 9, 2019: New York DFS granted Bitstamp USA Inc. a virtual currency license, the 19th BitLicense issued by the regulator.
- May 16, 2025: Luxembourg’s CSSF granted Bitstamp the EU’s MiCA Crypto Asset Service Provider (CASP) license, enabling EEA-wide passporting.
- June 2, 2025: Bitstamp came under Robinhood Markets, retaining offices in Luxembourg, the UK, Slovenia, Singapore and the US.
- April 2026: Bitstamp Financial Services Ltd. operates the new perpetual futures product under MiFID II authorization from Slovenia’s Securities Market Agency (ATVP).
EU MiCA CASP License Details
Bitstamp became the first crypto exchange headquartered in Luxembourg to receive Crypto-Asset Service Provider authorization under the EU’s Markets in Crypto-Assets regulation, following an earlier 2016 milestone as the first EU crypto exchange to hold a payment institution license. The CSSF authorization on May 16, 2025, permits Bitstamp to operate its trading platform, execute orders on behalf of clients, and hold crypto-assets across the European Economic Area via the EU passport.
- Regulator: Commission de Surveillance du Secteur Financier (CSSF), Luxembourg.
- License date: May 16, 2025.
- Scope: Trading platform operation, order execution on behalf of clients, crypto-asset custody.
- Geographic reach: European Economic Area via EU passporting from a single Luxembourg base.
- Historical context: Also the first EU crypto exchange to hold a payment institution license, awarded by Luxembourg in 2016.
Key finding: Bitstamp’s CSSF-issued CASP license activates passporting rights across all 27 EU member states from its single Luxembourg base, a structural advantage MiCA codified to consolidate fragmented national licensing regimes into one common regulatory framework, with the same CSSF that earlier issued the 2016 payment institution license now confirming Bitstamp’s expanded scope.
“MiCA’s rigour makes Bitstamp’s approval under its regime all the more momentous and will enable us to offer our European customers an incredibly reliable and protected environment for engaging with crypto-assets.” The statement came from Jean-Baptiste Graftieaux, Bitstamp’s Global CEO, on the day of the license grant.
Trading Pairs and Supported Assets on Bitstamp
Bitstamp lists over 115 carefully selected digital assets, with 237 active trading pairs across its spot exchange. The exchange’s asset list spans the major cryptocurrencies, with the 2019 NY DFS BitLicense scope covering Bitcoin, XRP, Ethereum, Bitcoin Cash and Litecoin, and the current spot catalog reporting over 115 tokens. Spot catalogs at compliant EU venues typically extend into the broader stablecoin category, including widely traded names such as USDC.
- Digital assets listed: Over 115 spot tokens.
- Active trading pairs: 237.
- Jurisdictional spread: Spot order books emphasize regulatory compliance across the EU, UK, US, and Singapore per CoinMarketCap’s June 2026 snapshot.
- Asset slate trajectory: Established August 2011, listing over 115 digital assets as of the June 30, 2026 CoinMarketCap snapshot.
- Perpetual contracts available (EU): 10 assets at launch including BTC, ETH, SOL, DOGE, XRP, SUI, ADA, AVAX, LINK and HYPE.
- Original BitLicense scope (2019): BTC, XRP, ETH, BCH and LTC for the New York book; a base Altcoin set the exchange has expanded substantially in the years since.
Bitstamp Security Track Record
In January 2015, Bitstamp’s hot wallet was drained of under 19,000 BTC worth approximately $5 million at the time, after a weeks-long phishing campaign that targeted six employees and eventually compromised a privileged server account. Following the 2015 incident, the exchange moved to multi-signature wallet access and contracted custodian Xapo to handle its cold wallet storage.
- Under 19,000 BTC moved out of Bitstamp’s hot wallet in the January 2015 incident.
- Approximately $5 million in loss at the BTC price at the time.
- 6 Bitstamp employees were targeted in the multi-week phishing campaign that preceded the hot-wallet drain.
- Post-incident: Bitstamp moved to multi-signature wallet access for hot operations.
- Post-incident: Bitstamp contracted Xapo to handle its cold wallet storage.
- Bitstamp suspended its trading service during the 2015 hot-wallet incident.
- Belgian investment company NXMH acquired Bitstamp in October 2018.
- 94.07 Security subscore on Kaiko’s Q1 2026 evaluation.
Bitstamp ran the play in reverse: it absorbed a 2015 hack, then spent the next decade chasing licenses one jurisdiction at a time, which is part of why the 2025 MiCA approval read more like a confirmation than a milestone.
Bitstamp Founding and Ownership History
Bitstamp was established in August 2011 by Nejc Kodrič and Damijan Merlak in Slovenia and now operates from Luxembourg City with a satellite office in Ljubljana. The exchange moved its corporate registration from Slovenia to the UK in April 2013 and then to Luxembourg in 2016, where it has remained.
- August 2011: founded by Nejc Kodrič and Damijan Merlak in Slovenia.
- April 2013: registration moved from Slovenia to the UK.
- 2016: registration moved to Luxembourg, with the Luxembourg payment institution license granted in April 2016.
- October 2018: Belgian investment firm NXMH acquired Bitstamp.
- Q1 2023: Ripple acquired an undisclosed minority stake in Bitstamp from Pantera, with Galaxy Digital advising on the transaction.
- June 2, 2025: Robinhood completed its $200 million acquisition of Bitstamp.
- June 2025 onward: Bitstamp operates as “Bitstamp by Robinhood” with offices in Luxembourg, the UK, Slovenia, Singapore and the US.
Bitstamp Perpetual Futures Launch (EU)
On April 9, 2026, Bitstamp by Robinhood launched crypto perpetual futures on its web platform for institutional and retail investors, available to eligible EU traders under MiFID II supervision via Bitstamp Financial Services Ltd., authorized by Slovenia’s Securities Market Agency (ATVP). Leverage on the product is capped at a maximum of 10x to mitigate volatility and liquidation risks, and positions carry no expiration date.
- Launch date: April 9, 2026 (general availability).
- Geographic scope: Available to eligible EU/EEA traders.
- Regulatory framework: MiFID II via Bitstamp Financial Services Ltd., authorized by ATVP Slovenia.
- Leverage cap: 10x maximum.
- Supported assets at launch: BTC, ETH, SOL, DOGE, XRP, SUI, ADA, AVAX, LINK and HYPE.
- Position structure: No expiration dates per the Bitstamp launch announcement.
- Parent context: Robinhood’s own EU perpetual book now includes XRP, SOL, DOGE and SUI alongside the original BTC and ETH, with up to 7x leverage in place per the 2025 Year in Crypto update.
By the numbers: Bitstamp by Robinhood’s April 9, 2026 perpetuals launch covers 10 crypto assets under a 10x leverage cap, authorized by Slovenia’s ATVP under MiFID II. Positions have no expiration date, the standard perpetual swap structure that lets traders express directional bets without rolling fixed-maturity contracts.
Kaiko Exchange Ranking Breakdown
Kaiko placed Bitstamp by Robinhood at #2 of 44 spot exchanges in its Q1 2026 Exchange Ranking with an overall Exchange Score of 81.10 and a fifth consecutive AA rating. Kaiko’s methodology scores exchanges on a 0-100 scale across Business, Liquidity, Technology, Security, Governance and Data Quality dimensions, with the Q1 2026 AA tier comprising Crypto.com, Bitstamp by Robinhood, Kraken, Coinbase, OKX and Gemini.
- Overall Kaiko Exchange Score: 81.10 in Q1 2026.
- Security subscore: 94.07 in Kaiko’s Q1 2026 evaluation.
- Technology subscore: 92.31, reflecting infrastructure reliability.
- Business subscore: 89.47, reflecting operational maturity.
- Rating: AA, fifth consecutive quarter.
- Universe: 44 spot exchanges scored in the Q1 2026 cycle.
- AA peers: Crypto.com, Bitstamp, Kraken, Coinbase, OKX and Gemini.
Bitstamp and Robinhood Combined Crypto Footprint
Robinhood’s 2025 Year in Crypto update reported crypto assets under custody of $51 billion as of Q3 2025 and trailing-twelve-month notional volume of $232 billion, with Bitstamp contributing from June onward. The combined entity now lists 45+ digital assets in the US, 65+ in the EU, and stakes roughly $1 billion of customer assets, while a Layer 2 blockchain called Robinhood Chain is in development on Arbitrum to power tokenized real-world and digital assets.
- $51 billion in Robinhood crypto assets under custody (Q3 2025).
- $232 billion in trailing-twelve-month notional volume (Q3 2025).
- Approximately $1 billion in staked assets at the parent level.
- 45+ crypto assets listed in the US application.
- 65+ crypto assets listed in the EU application.
- Bitstamp’s institutional lending, staking, and trading API now sits inside Robinhood’s perimeter, enabling expansion into institutional services such as crypto-as-a-service.
- Robinhood Chain: A Layer 2 on Arbitrum in development for tokenized real-world and digital assets.
The takeaway: Bitstamp’s value to Robinhood was not the headline notional. It was the institutional API, the lending and staking stack and the over-50 licenses that lets the combined entity quote on cryptocurrency exchanges globally instead of the US retail surface alone, with a thin take rate offset by institutional volume.
When Did Robinhood Buy Bitstamp and How Much Did It Pay?
Robinhood announced the acquisition of Bitstamp in June 2024 and closed the deal on June 2, 2025, for $200 million in cash. The transaction was structured as an all-cash purchase and brought Bitstamp’s institutional book, multi-jurisdictional licenses, and trading API under Robinhood’s roof, including its over 50 active licenses and registrations globally.
Is Bitstamp Safe to Use After the 2015 Hack?
Bitstamp lost under 19,000 BTC in the January 2015 hot-wallet hack, after which it adopted multi-signature wallet access and outsourced cold storage to Xapo. A decade later, Kaiko awarded the exchange a 94.07 Security subscore in its Q1 2026 evaluation. Consumer crypto exchanges typically offer multiple deposit rails, including bank transfer and debit/credit card options under standard issuer fraud controls.
Conclusion
Bitstamp marked 14 years of operation, closed a $200 million sale to Robinhood, received the EU MiCA CASP license, and held the Kaiko #2 rank in Q1 2026. Robinhood’s trailing-twelve-month $232 billion in crypto notional through Q3 2025 ran roughly 980x Bitstamp’s current 24-hour spot volume, the order-of-magnitude difference that explains why the institutional, lending, and licensing surface mattered more in the deal than the spot tape.
The forward calendar is short and concrete: More perpetual contracts expected in the EU under the April 2026 launch, MiCA passporting that will likely surface more Luxembourg-CASP filings among Bitstamp’s European peers ahead of the July 2026 transitional deadline, and Robinhood Chain L2 integration that could pull Bitstamp’s institutional lending stack onto programmable rails. The Bitstamp brand has now outlived three ownership changes; the data spine above is what survived each one.