Robinhood vs Coinbase Statistics 2026: Secret Edge

Robinhood Markets (NASDAQ: HOOD) posted $4.5 billion in revenue for 2025, a 52% jump that marked a record year. Coinbase Global (NASDAQ: COIN) brought in $7.2 billion over the same period but saw net income fall from $2.5 billion in 2024 to $1.3 billion. Both platforms are racing to become the single app where users manage their entire financial life, yet the numbers reveal two fundamentally different business models competing for the same customers.

The data below covers Robinhood and Coinbase across revenue, users, trading volume, fees, crypto positioning, and platform growth using the latest full-year data.

Key Takeaways

• Robinhood’s transaction-based revenue surged 129% year over year in Q3 2025, with crypto trading revenue alone up over 300% to $268 million.
• Coinbase’s Q4 2025 miss ($0.66 EPS vs $1.05 expected) was driven by $718 million in unrealized crypto investment losses, not operational weakness.
• Robinhood Gold subscribers reached 4.2 million at $5/month, generating an estimated $252 million in annualized recurring revenue.
• Coinbase supports over 260 cryptocurrencies compared to Robinhood’s 35+, a 7x difference in altcoin coverage.
• Robinhood’s prediction markets unit processed over 12 billion event contracts in 2025, creating a new revenue stream that Coinbase does not offer.
• Coinbase operates Base, its own Layer 2 network on Ethereum, generating transaction fee revenue and building ecosystem infrastructure.

Editor’s Choice

• Robinhood generated $4.5 billion in 2025 revenue, up 52% year over year, while Coinbase earned $7.2 billion, up 9%.
• Robinhood has 28.4 million investment accounts; Coinbase has 120 million verified users, but only 8.7 million monthly transacting users.
• Coinbase processed $5.2 trillion in total trading volume in 2025, a 156% increase year over year.
• Robinhood’s crypto trading revenue surged over 300% in Q3 2025 to $268 million.
• Robinhood Gold subscribers grew 58% to 4.2 million, generating recurring subscription revenue.
• Coinbase controls over 50% of the US crypto spot market and 6.9% of global exchange volume.
• Robinhood’s revenue per funded account is roughly $158, while Coinbase earns approximately $828 per monthly transacting user, reflecting very different monetization approaches.

By the numbers: According to Robinhood Q4 2025 earnings disclosed February 10, 2026, Robinhood generated $4.5 billion in full-year 2025 revenue, up 52 percent year-over-year, with Gold subscribers reaching a record 4.2 million. Funded customers hit 27.4 million by end of February 2026, a pace that widens Robinhood’s retail-trading lead over Coinbase.

Recent Developments

• Robinhood reported Q4 2025 net revenues of $1.28 billion on February 10, 2026, up 27% year-over-year, with full-year 2025 revenues reaching a record $4.5 billion.
• Robinhood Gold subscribers hit a record 4.2 million by the end of 2025, contributing to $68 billion in full-year net deposits, including $16 billion in Q4 alone.
• On March 12, 2026, Robinhood reported funded customers at 27.4 million as of the end of February 2026, up approximately 140,000 from January 2026.
• Coinbase reported Q4 2025 earnings on February 12, 2026, anchoring crypto company reporting season alongside Robinhood and signaling strong institutional flows for both platforms.

Robinhood vs Coinbase Annual Revenue

• Robinhood’s 52% year-over-year revenue growth was the fastest among publicly traded US brokerages in 2025, outpacing even crypto-native competitors.
• Coinbase’s 9% annual revenue growth lagged Robinhood’s pace because its 2024 baseline was already elevated by the crypto bull cycle.
• Robinhood’s higher net income despite lower total revenue reflects a leaner cost structure, with total operating expenses rising only 25% against 52% revenue growth.
• Coinbase absorbed $718 million in unrealized crypto investment losses plus $395 million in strategic write-downs during Q4, dragging full-year profitability below Robinhood’s.
• Transaction-based revenue made up 58% of Robinhood’s Q3 total, with net interest income contributing 36% and other revenue filling the gap.
• Coinbase earns roughly half its revenue from transaction fees and half from subscription and services, including staking rewards, custody, and Base network fees.
• Robinhood’s total operating expenses reached $2.38 billion for 2025, giving it an operating margin above 40% for the first time.
• Coinbase generated 12 products each exceeding $100 million in annualized revenue, an all-time high for business diversification.
• Robinhood’s revenue diversification through prediction markets, equities, and options is unique among platforms that started in crypto-adjacent trading. Our crypto exchange statistics show this trend is industry-wide.

Source: Robinhood IR, Coinbase IR

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Robinhood vs Coinbase Quarterly Earnings

• Coinbase’s Q4 2025 earnings miss sent shares down 7.9% in after-hours trading, the largest single-day post-earnings drop since Q2 2023.
• The miss was driven by non-operational factors: $718 million in unrealized crypto portfolio losses and $395 million in strategic investment write-downs.
• Coinbase’s adjusted net income for Q4 was $178 million, showing the core business remained profitable despite GAAP-reported losses.
• Robinhood’s Q3 2025 transaction-based revenue surged 129% year over year, the strongest quarterly growth rate in at least eight quarters.
• Robinhood’s diluted EPS reached $2.05 for full-year 2025, a 31% improvement over the $1.56 posted in 2024.
• Coinbase’s subscription and services revenue hit $727 million in Q4, demonstrating that recurring income streams are becoming a larger share of total revenue.
• Robinhood reported its sixth consecutive quarter of positive GAAP net income starting from Q2 2024 through Q3 2025.
• Coinbase’s Q4 transaction revenue of $983 million was a record quarterly figure, despite the overall EPS miss from non-cash charges.
• Both platforms showed accelerating revenue in the second half of 2025, coinciding with Bitcoin’s push above $100,000 and renewed retail interest.

Source: Robinhood IR, Coinbase IR, Analyst Estimates

Robinhood vs Coinbase Crypto Revenue

• Crypto trading drove $268 million of Robinhood’s Q3 2025 transaction revenue, a 300%+ year-over-year surge that made it the fastest-growing segment.
• Coinbase’s transaction revenue, which is almost entirely crypto-derived, hit $983 million in Q4 2025 alone, roughly 3.7x Robinhood’s Q3 crypto figure.

• Robinhood’s crypto revenue share within total transaction revenue grew from roughly 20% in early 2024 to over 36% by Q3 2025.
• Coinbase staking rewards generated a meaningful share of its subscription and services line, providing recurring revenue that does not depend on trading volume.
• Robinhood offers limited staking on select proof-of-stake tokens, generating far less staking income than Coinbase’s broad validator operation.
• The Bitstamp acquisition added institutional crypto trading fees to Robinhood’s revenue mix starting in Q3 2025, though the contribution was not broken out separately.
• Coinbase’s Base L2 network generates sequencer fees that flow into crypto-related revenue, a stream Robinhood has no equivalent for.
• Robinhood earns payment for order flow (PFOF) on crypto trades routed through market makers, a practice that Coinbase does not use because it operates its own matching engine.
• Both platforms saw crypto revenue surge during 2025’s bull market, but Coinbase’s absolute crypto revenue remains several multiples larger due to its deeper order books and institutional volume.

Robinhood vs Coinbase User Counts

• Robinhood has 28.4 million total accounts, reflecting its broad retail investing user base.
• Coinbase reports approximately 120 million verified users, indicating a significantly larger global user footprint.
• Robinhood records 10.8 million monthly active app users, showing strong ongoing engagement within its platform.
• Coinbase has 8.7 million monthly transacting users, representing active participants in crypto trading activities.

• Coinbase’s conversion rate from verified users to monthly transacting users is roughly 7.3%, while Robinhood’s active rate sits near 38%, over 5x higher.
• Investment accounts at Robinhood grew by 2.2 million net additions in 2025, signaling organic user acquisition momentum even after a decade in the market.
• Robinhood is the most-downloaded stock trading app in the US by mobile downloads, according to app store download data.
• Coinbase’s 120 million verified user count includes dormant accounts from the 2021 bull market that have never returned to active trading.
• Robinhood’s younger demographic (75% under 44) skews well below the industry average for traditional brokerages, which typically report median ages above 50.
• Coinbase does not publicly disclose its user age demographics, making a direct demographic comparison impossible from public filings.
• Robinhood’s multi-asset offering (stocks, ETFs, options, crypto, prediction markets) attracts users who want a single app rather than separate accounts for each asset class.
• Coinbase’s user base is geographically broader, with verified users in over 100 countries, while Robinhood operates primarily in the US and UK.
• Both platforms report different user metrics, making apples-to-apples comparison difficult without normalizing for account definitions.

Robinhood Gold vs Coinbase One Subscribers

• At $5 per month, Robinhood Gold generates an estimated $252 million in annualized recurring subscription revenue before accounting for incremental margin and lending income.
• Coinbase One costs $29.99 per month (roughly 6x the price of Gold) but includes zero trading fees and priority customer support.

• Robinhood Gold subscribers reached 4.2 million by the end of 2025, a 58% increase year over year that shows strong upsell conversion from free accounts.
• Gold members also produce higher margin lending and cash sweep rates, adding incremental revenue beyond the subscription fee itself.
• Robinhood Gold’s 3% IRA match is unique in the brokerage industry and adds long-term retirement account value that no competitor currently matches.
• Coinbase does not disclose Coinbase One subscriber numbers, making a direct subscription base comparison impossible from public data.
• Coinbase One breaks even at roughly $5,000 in monthly trading volume at standard fee rates; above that threshold, the subscription saves money for active traders.
• Robinhood Gold’s lower price point creates a wider funnel, converting casual users into paying subscribers who then trade more frequently.
• Approximately 15% of Robinhood’s total funded accounts are Gold subscribers, indicating strong premium penetration within the user base.

Robinhood vs Coinbase Crypto Trading Volume

• Coinbase processed $5.2 trillion in total trading volume during 2025, a 156% year-over-year increase and the largest annual volume in company history.
• Robinhood’s trailing 12-month crypto trading volume reached approximately $232 billion, a fraction of Coinbase’s total but growing rapidly after the Bitstamp acquisition.
• Coinbase doubled its crypto trading volume market share during 2025, capturing share from smaller exchanges that lost users to regulatory pressure.
• Coinbase volume includes both retail and institutional trading through Coinbase Prime, which serves hedge funds, ETF issuers, and asset managers.
• Robinhood acquired Bitstamp in June 2025, adding institutional-grade crypto order books and access to European markets that should boost future volume figures.
• The Bitstamp acquisition directly challenges Coinbase Prime’s institutional business by giving Robinhood deeper order books and European exchange licenses.
• Robinhood’s multi-asset approach spreads volume across equities, crypto, options, and event contracts, so no single asset class dominates its total throughput.
• Coinbase International Exchange handles derivatives trading outside the US, adding futures and perpetual contract volume that Robinhood does not yet match globally.
• Binance dominates global volume at 38%, making both Robinhood and Coinbase relatively small in the global picture despite their US market strength.

Source: Robinhood IR, Coinbase IR, CoinGecko

Robinhood Prediction Markets Statistics

• Robinhood launched its prediction markets product in 2025, processing over 12 billion event contracts in the first year of operation.
• The prediction markets unit reached a $300 million fourth-quarter annualized revenue run rate, making it a meaningful contributor to total company revenue.
• Event contracts allow users to bet on outcomes for political events, economic indicators, sports results, and other binary-outcome scenarios.
• Coinbase does not offer prediction markets or event contracts, giving Robinhood a unique product advantage in the regulated US market.
• Robinhood’s prediction markets compete with Kalshi and Polymarket, but Robinhood’s existing user base of 28.4 million funded accounts gives it a distribution advantage.
• The product saw peak engagement during the 2025 US political cycle, with election-related contracts driving the highest single-day trading volumes.
• Robinhood’s event contracts are CFTC-regulated, providing a compliance framework that distinguishes them from offshore prediction market platforms.
• Options trading revenue at Robinhood also grew 50% year over year to a Q3 record of $304 million, showing that derivatives appetite extends beyond prediction markets.
• The prediction markets revenue stream reduces Robinhood’s dependence on crypto cycles, providing income that correlates with news events rather than asset prices.

Source: Robinhood IR, CFTC Filings

Robinhood vs Coinbase Supported Cryptocurrencies

• Coinbase’s 260+ token listings give altcoin traders significantly more exposure than Robinhood’s 35+, a 7x coverage gap that matters for portfolio diversification.

• Robinhood’s crypto strategy shifted fundamentally with the Bitstamp acquisition in 2025, adding institutional custody and a European exchange license that could accelerate token listings.
• Coinbase’s listing process includes a legal review, security audit, and compliance check, which adds tokens more slowly but reduces the risk of listing scam or rug-pull projects.
• Robinhood’s smaller token count is a deliberate choice to limit regulatory exposure, listing only assets it is confident will not be classified as securities.
• Both platforms support major assets like Bitcoin, Ethereum, Solana, and Dogecoin, so the coverage gap matters primarily for mid-cap and small-cap altcoins.
• Coinbase provides staking for select proof-of-stake tokens (ETH, SOL, ADA, and others), generating recurring yield-based revenue that Robinhood’s limited staking cannot match.
• Robinhood added several new tokens throughout 2025, including PEPE, BONK, and other meme coins that appeal to its younger user demographic.
• Coinbase’s broader token support makes it the default on-ramp for DeFi users who need access to governance tokens, layer-2 native tokens, and niche protocol assets.

Key finding: According to Coinbase IR disclosures reported February 12, 2026, the exchange earned $7.2 billion in 2025 revenue, up 9 percent year-over-year, with 102 million verified users versus Robinhood’s 27.4 million funded customers. The gap reflects Coinbase’s institutional custody moat versus Robinhood’s retail-trading breadth, different monetization models serving overlapping markets.

Coinbase Base Layer 2 Network Statistics

• Coinbase’s Base network is an Ethereum Layer 2 rollup built on the OP Stack, designed to provide low-cost transactions while inheriting Ethereum’s security.
• Base generated meaningful transaction fee revenue for Coinbase in 2025, with sequencer fees flowing directly into the company’s subscription and services revenue line.
• The network attracted hundreds of decentralized applications, including DEXs, lending protocols, and NFT marketplaces, creating ecosystem lock-in for Coinbase.
• Base’s daily active addresses surpassed 2 million at peak periods during 2025, making it one of the most-used Layer 2 networks alongside Arbitrum and Optimism.
• Robinhood has no equivalent Layer 2 network or blockchain infrastructure play, making Base a strategic differentiator that extends Coinbase beyond exchange services.
• Coinbase uses Base to offer fee-free USDC transfers between Coinbase accounts and Base wallets, reducing friction for users moving between centralized and decentralized finance.
• Base transaction costs averaged under $0.01 for standard transfers in 2025, positioning it as a viable payment rail for micro-transactions and gaming applications.
• The network’s total value locked (TVL) grew steadily throughout 2025, attracting DeFi capital that generates ongoing sequencer fees for Coinbase regardless of trading volume on the exchange.
• Base is part of the Optimism Superchain ecosystem, sharing security and governance infrastructure with other OP Stack chains while maintaining Coinbase’s operational control.

Source: Coinbase IR, L2Beat, Dune Analytics

Robinhood vs Coinbase Fee Comparison

• Robinhood’s spread is embedded in the execution price and never itemized, making the true per-trade cost invisible to the user.
• Coinbase uses a maker-taker fee structure on its Advanced platform, rewarding limit orders with lower fees than market orders.
• For casual crypto buyers making small, occasional trades, Robinhood is typically cheaper due to its zero-commission model with a thin embedded spread.
• For active traders with volume above a few thousand dollars monthly, Coinbase Advanced costs less per trade through tiered volume discounts.
• Coinbase’s 0% fee on USDC pairs makes it the clear winner for stablecoin-heavy traders and DeFi on-ramps.
• Robinhood’s hidden spread can exceed 1% on less liquid altcoins, potentially making it more expensive than Coinbase for those specific tokens.
• Neither platform charges custody or wallet fees, so cost differences are entirely in trade execution and subscription pricing.
• Robinhood charges no fees for stock, ETF, or options trading, a benefit that Coinbase cannot offer because it does not support those asset classes.
• Coinbase Advanced taker fees start at 0.60% for the lowest volume tier and drop to 0.05% for accounts trading above $400 million monthly.

Source: NerdWallet, CoinLedger, Coinbase Fee Schedule

Robinhood vs Coinbase Assets Under Management

• Coinbase’s asset base is roughly 60% larger than Robinhood’s in absolute terms, but growing at a slower rate (27% vs 68% year over year).
• Robinhood’s deposit growth rate (35% of prior year AUM) signals strong organic customer inflows, not just market appreciation.
• Robinhood’s multi-asset base (stocks, ETFs, cash, crypto) provides more stability than Coinbase’s crypto-concentrated portfolio, which swings with BTC and ETH prices.
• Robinhood’s $68.1 billion in net deposits during 2025 was the highest annual figure in company history, driven by both new accounts and existing user top-ups.
• Coinbase does not disclose net deposit figures separately, making it impossible to compare organic inflow rates directly from public filings.
• Both platforms saw significant growth during the 2025 bull market, but Robinhood’s growth came more from net new deposits than price appreciation.
• Coinbase’s crypto-concentrated asset base amplifies both gains and drawdowns, meaning a 20% drop in crypto prices would reduce its AUM far more than an equivalent equity market decline would affect Robinhood.
• At current growth trajectories, Robinhood could close the asset gap within 2-3 years if deposit momentum and market conditions hold.

Source: Robinhood IR, Coinbase IR

Robinhood vs Coinbase Stock Performance

• Both HOOD and COIN trade on NASDAQ, giving investors a direct way to bet on the future of retail trading and crypto adoption, respectively.
• Robinhood’s stock benefited from its 52% revenue growth and expanding prediction markets segment throughout 2025, with shares reaching multi-year highs.
• Coinbase shares dropped 7.9% after the Q4 2025 earnings miss, the largest post-earnings decline in over a year, despite record transaction revenue.
• Robinhood’s market capitalization crossed $50 billion during 2025, a recovery from its post-IPO lows when it traded below $8 per share in 2022.
• Coinbase’s market cap fluctuated between $40 billion and $75 billion during 2025, driven by crypto price swings and earnings volatility.
• HOOD stock is more correlated with broad fintech sentiment and retail trading activity, while COIN acts as a leveraged proxy for crypto market prices.
• Robinhood’s share buyback program authorized up to $1 billion in repurchases, signaling management confidence in the stock’s undervaluation.
• Coinbase insiders, including CEO Brian Armstrong, sold shares during 2025 highs under pre-arranged 10b5-1 trading plans, a pattern common among crypto executives.
• Analyst consensus price targets at the end of 2025 were higher for both stocks than their trading prices, with the average HOOD target implying roughly 20% upside and the average COIN target implying 15% upside.

Source: NASDAQ, Robinhood IR, Coinbase IR, Analyst Estimates

Frequently Asked Questions (FAQs)

Conclusion

The Robinhood vs Coinbase statistics tell a story of two platforms heading in opposite directions to reach the same destination. Robinhood earned less revenue ($4.5 billion vs $7.2 billion) but produced more profit ($1.9 billion vs $1.3 billion) by spreading across stocks, options, crypto, and prediction markets. Coinbase processed more trading volume ($5.2 trillion) by doubling down on crypto infrastructure, staking, and its Base L2 network.

The revenue-per-user gap is the most telling statistic. Robinhood earns $158 per funded account across a broad multi-asset base. Coinbase earns $828 per monthly transacting user from crypto-concentrated activity. One model bets on volume across asset classes; the other bets on depth within crypto.

Based on the data we track across our retail investing statistics and crypto exchange statistics, this year’s battle will likely be decided by which expansion strategy proves stickier: Robinhood’s prediction markets and banking features pulling in new users, or Coinbase’s institutional infrastructure and Base network creating ecosystem lock-in.