Robinhood buys $25M in Bitcoin for its own balance sheet

Robinhood made its first proprietary Bitcoin purchase, spending about $25 million of company funds. Under FASB ASU 2023-08, the holding is marked to fair value each quarter, giving HOOD shareholders Bitcoin exposure through both revenue and earnings.

• The $25M purchase equals 0.025% of Robinhood's ~$100B market cap
• Robinhood had 27.4M funded customers and $307B in platform assets
• ASU 2023-08 requires quarterly fair-value mark of in-scope crypto
• Crypto trading was 53% of transaction revenue in Q4 2024