Robinhood, an online trading platform, reported a crypto trading revenue of $31 million for the second quarter of 2021, a decrease of 18% from the $38 million reported in the first quarter. This figure accounted for 16% of the total trading revenue of $193 million, which saw a 7% sequential decline. The company also reported having $11.5 million in crypto assets under custody, the same amount as the end of the first quarter.
In June, Robinhood ended support for tokens named as securities in the SEC lawsuits against crypto exchanges Binance and Coinbase, including Cardano (ADA), Polygon (MATIC) and Solana (SOL). Currently, the trading platform offers trading for 15 different crypto currencies, such as bitcoin (BTC), ether (ETH), dogecoin (DOGE) and Avalanche (AVAX).
Overall for the second quarter, Robinhood reported earnings per share of $0.03 on revenue of $486 million, surpassing analyst estimates of a loss of $0.01 per share on revenue of $473 million. Despite share prices increasing 54% this year, Robinhood’s share prices dropped 7.5% to $11.50 in after-hours trading Wednesday.