Robinhood Market Share Gains vs Growth of Other Financial Metrics

Market share. Pexels Image.

This page presents Robinhood’s market share breakdown by asset class, consisting of:

• equities,
• options,
• crypto, and
• margin.

Let’s look at the market share results!

For other statistics of Robinhood, you may find more information on this page: Robinhood key stats.

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Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

Equities Market Share:

Robinhood’s equities market share is defined as Robinhood Equity Notional Volumes divided by Total US Equity Notional Volumes from CBOE over a given period.

Options Market Share:

Robinhood’s options market share is defined as Robinhood Options Contracts Traded divided by the sum of Equity and Non-Equity Options Contracts from OCC times two over a given period.

Crypto Market Share:

Robinhood’s crypto market share is defined as Crypto Notional Volumes divided by Total Cryptocurrency Exchange Volume from The Block over a given period.

Margin Market Share:

Robinhood’s margin market share is defined as average Robinhood Margin Book divided by average Debit Balances in Customers’ Securities Margin Accounts from FINRA over a given period.

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Insight & Summary of Robinhood’s Market Share Breakdown By Asset Class

Robinhood expanded its share across all four tracked asset classes — equities, options, crypto, and margin — every year from 2022 through 2025, while the underlying platform scaled sharply on deposits, assets, revenue, users, and profitability. The two data sets tell a broadly consistent growth story, though the pace and composition of gains has shifted noticeably year to year.

• Broad-Based Share Gains, But Uneven Momentum All four asset classes grew share in 2024 and 2025, but 2023 was a mixed year: equities and options continued climbing while crypto (-5.6%) and margin (-19.4%) share contracted. That pattern reversed sharply afterward — crypto and margin became the two fastest-growing share categories by 2025 (63.2% and 75.0% growth), while options, already the largest share at 4.40% in 2022, settled into steadier, more moderate growth (18.2% → 30.8% → 10.3%) consistent with a maturing, higher-base franchise.

• Platform Scale and Profitability Expanding Together Net deposits, platform assets, total net revenues, funded customers, and ARPU all grew every year, and Adjusted EBITDA moved from a loss in 2022 to sustained, accelerating profit from 2023 onward. The 2023 EBITDA growth figure (-670.2%) is a mathematical artifact of swinging from a negative base rather than a deterioration — profitability rose in dollar terms every period after 2022.

• Financial Metrics Have Generally Outgrown Market Share In most years, growth in the underlying financial metrics — particularly net deposits, interest revenues, and transaction revenues — ran well ahead of the percentage gains in market share. This is consistent with market share gains being partly a byproduct of a rapidly growing total addressable market (higher industry-wide trading and crypto activity) as much as Robinhood-specific share capture; the financial metrics capture both effects, while market share isolates only the latter.

• Structural Takeaway: Structurally, Robinhood’s growth is broad-based rather than concentrated in one product line, and it is increasingly self-funding as profitability scales alongside the platform. The clearest shift to watch is the changing mix of share-gain drivers: options, once the primary share story, is decelerating from a large base, while crypto and margin have emerged as the higher-momentum categories most likely to drive incremental share gains going forward. A second shift worth monitoring is the sharp deceleration in net deposit growth (195.3% in 2024 to 34.9% in 2025) even as platform assets, revenue, and EBITDA growth remained elevated — a pattern that, if it continues, would point to deposit growth normalizing toward a more sustainable pace while organic engagement and profitability carry the growth story forward.

The table below combines all key Robinhood’s market share vs other financial metrics into a single view for the latest three fiscal years.

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Market share breakdown by asset class

How Robinhood measures its market share by asset class is available here: equities, options, crypto, and margin.

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Market share YoY growth by asset class

How Robinhood measures its market share by asset class is available here: equities, options, crypto, and margin.

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Other financial metrics numbers

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Other financial metrics YoY growth

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Credits And References

1. All data presented in this article were obtained and referenced from Robinhood’s quarterly and annual reports published on the company’s IR: Robinhood Investor Relations.

2. Pexels Images.

Disclosure

We may use artificial intelligence (AI) tools to assist us in writing some of the text in this article. However, the data is directly obtained from original sources (usually the quarterly and annual reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

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