Whalesbook
Robinhood Courts Sophisticated Crypto Users
Robinhood (HOOD) is strategically sharpening its focus on advanced cryptocurrency traders, a significant pivot driven by evolving customer engagement in the wake of a volatile year for digital assets. Johann Kerbrat, head of crypto at Robinhood, stated that while younger, less experienced customers often view dips as 'buy the dip' opportunities with a long-term perspective, a growing segment of sophisticated users is trading more frequently. These advanced users are engaging in day trading and actively managing cost basis strategies.
Enhanced Tools for Active Traders
To cater to this expanding advanced trader base, Robinhood has rolled out features designed to streamline complex trading operations. These include tax-lot selection and custom cost basis options for crypto transfers, aimed at helping users manage their tax liabilities more effectively. The platform now routes crypto trades through seven liquidity venues, with trading fees potentially dropping to as low as three basis points based on user volume. Historically perceived as a beginner-friendly entry point into crypto, Robinhood is actively working to reshape this narrative, aiming to retain and attract users who might have previously moved to more specialized platforms.
Capturing Market Share
Kerbrat indicated that the company's strategy emphasizes gaining market share over raw trading volume, which he acknowledged can fluctuate significantly with market conditions. Robinhood's focus is on product improvement, ensuring its platform is attractive enough to draw users away from competitors like Kraken or Coinbase. Looking ahead to 2026, Kerbrat anticipates a focus on accessibility, aiming to democratize complex on-chain functionalities that have historically been engineer-centric.