Robinhood Reports Trading Metrics in May 2023, with Crypto Trading Volumes down 43% MoM

The online trading app Robinhood disclosed another month of slow demand in May 2023, with crypto total trading volumes down to $2.1 billion during the period. This figure dropped 43% from $3.7 billion in April​, and 68% compared to $6.6 billion in the last same period.

On a monthly basis, equity and options trading achieved growth. Equity trading reached $49.4 billion, 27% higher over April's $38.9 billion, but 15% lower over the last same period. Robinhood recorded options contacts of 97.5 million in the month, up 29% over the prior month and 36% on a yearly basis.

As for Daily Average Revenue Trades (DARTs), cryptocurrencies registered 0.2 million in May, falling 22% sequentially and 53% year-over-year. Equities and options reached 1.5 million amd 0.6 million, rising 4% and 10% on a monthly basis, respectively, but down 7% and 1% compared to May 2023.

The active users totaled 10.6 million in May, compared to that of the prior month of 11.5 million. Besides, the figure was 28% lower over May 2022. The Net Cumulative Funded Accounts (NCFA) reamained unchanged compared to April at 23.1 million, and rose 1% over May 2022's 22.8 million.

In addition, total Assets Under Custody came in at $81.8 billion, increasing 6% from $77.4 billion in April. Net deposits grew slightly from $1.4 billion to $1.6 billion.