Vlad Tenev is heading for France.
The CEO of Robinhood Markets (HOOD) told analysts that the online brokerage platform was gearing up for its “To Catch a Token” cryptocurrency event, slated for June 30, live from the French Riviera.
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“We’re heads down getting things ready for the crypto event,” he said during the April 30 earnings call. “So we’re very excited about that. There’s going to be some new things unveiled.”
Vlad Tenev, CEO of Robinhood Markets, is optimistic about the company’s potential with crypto.
TechCrunch,CC-BY-2.0 via Wikimedia Commons
The event, billed as Robinhood’s first-ever international and crypto-focused event, invites participants to “unlock the future of crypto” as the company promises to “usher in a bold new chapter — not just for Robinhood but for crypto.”
Robinhood’s crypto business is a significant revenue driver for the Menlo Park, Calif., company.
Robinhood CEO: Crypto had awesome quarter
While crypto revenue in the first quarter dipped slightly to $252 million, it still represented a substantial 43% of Robinhood’s total transaction revenue.
“So, I mean crypto had an awesome quarter,” Tenev said, noting that the total was the second-highest quarter in recent years. “Last quarter, obviously, was higher than that. But it’s going to go up and down in terms of trading volumes.”
“But what we like to look at is market share,” he added. “And if industry volumes are going down but market share is going up for Robinhood and we’re continuing to unlock and add more selection and add more products, we feel like we’re doing very, very well.”
“But what we like to look at is market share,” he added. “And if industry volumes are going down but market share is going up for Robinhood and we’re continuing to unlock and add more selection and add more products, we feel like we’re doing very, very well.”
The company, which recently closed its $200 million acquisition of the global crypto exchange Bitstamp, reported first-quarter results that beat Wall Street’s forecasts but came up short on monthly active users.
Nevertheless, Robinhood shares have more than doubled this year and leaped 250% from this time in 2024.
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The crypto sector is doing well under President Donald Trump, who has his own memecoin, $Trump, and who had vowed to make the U.S. the “crypto capital of the planet” and a “bitcoin superpower.”
Trump held a May 22 dinner and a White House tour for 25 leading memecoin buyers, sparking strong criticism of the president from ethics watchdogs
On June 9, Tenev and other CEOs attended a White House roundtable touting the proposed Trump Accounts initiative, a new savings account and the president’s proposed budget reconciliation.
Meanwhile, Robinhood is reportedly introducing two new features that will bring more sophisticated trading capabilities to its mobile app. These include a tool that lets a user preview simulated returns before placing an options trade, according to The Wall Street Journal.
Robinhood is also launching advanced charting capabilities on mobile devices, borrowed from its desktop trading platform launched last fall.
The charts will enable traders to take a more detailed, real-time look at markets while placing orders in just a few taps.
Analyst cites solid May results
Robinhood took a hit earlier this month after the S&P Dow Jones Indices made no changes to the S&P 500 index, snubbing the company after months of speculation that it could earn a coveted spot in the benchmark.
Bank of America had pegged Robinhood a top candidate to join the S&P 500 during the big reshuffling in June, CNBC reported.
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The S&P 500 rebalance, which typically comes on the third Friday of the last month in a quarter, is usually an impactful event as it can spark billions of dollars of trading and spur passive funds to snap up shares.
The online brokerage platform recently posted metrics for May. Total platform assets came to $255 billion, up 10% from April 2025 and surging 89% year-over-year.
Funded customers at the end of May were 25.9 million, up 1.8 million year-over-year.
On June 17 Mizuho raised its price target on Robinhood to $80 from $65 while maintaining an outperform rating on the shares.
The firm updated the company’s model following what it called “solid” May results.
Robinhood’s better-than-expected monthly metrics are driving Q2 revenue and adjusted Ebitda estimates higher, the firm said.
Mizuho expects the company’s “To Catch a Token” event on June 30 to feature major announcements regarding digital assets and their integration with traditional finance.
Robinhood deserves a premium valuation relative to other fintechs, given that it has proved its ability to grow rapidly and can tap into a $600 billion total addressable market with new products and geographies, the firm said.
On June 11, Goldman Sachs analyst James Yaro raised the firm’s price target on Robinhood to $82 from $81 and affirmed a buy rating after the company reported its May metrics.
The final data saw trading volumes even stronger than preliminary results, while the company also saw continued growth of total platform assets, Yaro said.
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