Trading across equities, options, and cryptocurrencies slowed in November, raising concerns that retail investor activity may be tapering off.
Robinhood (HOOD) saw crypto volumes drop to $28.6 billion, down 12% from October’s $32.5 billion and 19% lower than the same month last year, when crypto markets surged following Donald Trump’s election victory. Bitstamp, the crypto exchange Robinhood plans to acquire, also reported an 11% decline in volumes.
Equity trading volumes fell 37% month-over-month to $201.5 billion, though they remained 37% higher compared with last year. Total platform assets dropped 5% to $325 billion.
The slowdown highlights concerns that the recent surge in retail trading may be cooling. For a company that relies heavily on transaction-based revenue, weaker volumes across equities, options, and crypto could weigh on earnings.
Robinhood shares fell 8% on Thursday but remain up 216% year-to-date.
